#ETHCrossed2500

Yes, Ethereum (ETH) has recently crossed the $ETH 2,500 mark, reaching an intraday high of $ETH 2,558.83. This surge represents a significant recovery, as ETH has risen approximately 40% over the past week, climbing from around $ETH 1,800 to its current levels.

The recent price movement is largely attributed to the successful implementation of Ethereum's Petra upgrade on May 7, 2025. This upgrade introduced enhancements that have led to deflationary pressure by removing approximately 38,000 ETH from circulation. Additionally, increased institutional interest, including BlackRock's acquisition of 7,976 ETH, has contributed to the bullish momentum .

Technical analysts suggest that if Ethereum maintains its position above the $2,500 support level, it could target the next resistance levels at $2,600 and potentially $2,700. However, if it fails to hold above $2,500, a correction towards $2,350 or lower could occur .

It's worth noting that Ethereum's current price is still below its all-time high of $4,721.07 reached in November 2021. Nonetheless, the recent developments and price action have renewed optimism among investors and traders about Ethereum's future prospects.