#ETHCrossed2500

ereum ($ETH) has recently surpassed the $2,500 mark, reaching an intraday high of $2,587.64. This milestone is attributed to several factors, including the successful implementation of the Pectra upgrade, which aims to improve transaction speed and cost efficiency on the Ethereum network .

Technical indicators suggest that Ethereum's bullish momentum may continue. The Average Directional Index (ADX) has risen to 25, indicating a strengthening trend, and the price has moved above the 200-day Exponential Moving Average (EMA) . Analysts are eyeing the $2,900 level as the next potential target if the current momentum persists .

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However, it's important to note that significant selling pressure exists around the $2,500 to $2,915 range, where approximately $27.8 billion worth of ETH is held. This could pose a challenge to sustaining the upward trajectory .

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