#ETHCrossed2500

Ethereum (ETH) has broken through the $2,500 barrier, marking a significant milestone in its recent rally. As of May 11, 2025, ETH was trading at $2,512.24, with a market capitalization of $290.46 billion ¹.

This surge in price has been fueled by increased buying pressure from investors on the spot market, following a sharp decline in ETH's exchange reserve. Crypto native spot investors have been driving the buying pressure, with Ethereum's exchange reserve plummeting by nearly 180,000 ETH in the past 24 hours ².

Historical data suggests that once ETH crosses the $2,500 threshold, it could be the start of a new bullish phase. In fact, the last time ETH hit $2,500, it surged to $4,000 within just 30 days ³.

*Key Levels to Watch:*

- _Immediate Resistance:_ $2,550, which aligns with the 61.8% Fibonacci retracement from the March 2025 high of $2,800 to the April 2025 low of $2,100.

- _Support:_ $2,400, a level with significant order book depth on exchanges like Coinbase ³.

The Ethereum price surge has also been driven by the activation of the Pectra upgrade on mainnet, which introduces features geared at improved user experience, staking efficiency, and scalability ². Additionally, on-chain metrics reveal a significant uptick in ETH wallet activity, with over 120,000 new addresses created in the past week ³.

As ETH continues to trade above $2,500, bulls anticipate a breakout from the rounding bottom pattern, followed by a rally to $4,570 ⁴. However, a failure to hold $2,500 could see ETH retest support at $2,400.