Ethereum has made a surprising rebound, rising roughly 50% in the last six days. It fell
below $1,800 two days ago and is now approaching $2,700. Retail investors who were previously skeptical are now seeking for the ideal time to jump in. So, what comes next for Ethereum
Santiment just released some intriguing details on Ethereum's rebirth. Ethereum was rumored to overtake Bitcoin as the top cryptocurrency in 2017 due to its smart contracts and developer-friendly ecosystem. While that never happened, the discussion about Ethereum's ability to outperform Bitcoin's first-mover advantage continues. 📊 Ethereum surpassed $2,700 for the first time since February 23rd. Retail has shifted from mocking $ETH's underperformance to suddenly seeking justified entry prices. We explore the sentiment shift and what's next for cryptocurrency's #2 cap. 👇https://t.co/FrHeREWGm5 pic.twitter.com/H8ce8a5zJH — Santiment (@santimentfeed), May 13, 2025.
The social sentiment has also shifted quickly. Prior to this pump, the bears were in control, with many doubting Ethereum's growth prospects as rival cryptocurrencies took the spotlight. But as Ether recovered, critics were silenced, with objectives being set at $3,500 or higher. Transaction fees drop. Transaction fees are another important consideration. They've decreased to roughly $0.84 each transfer, a significant decrease from the $7 range six months ago. However, if costs resume at $2 or above, the rally may be jeopardized.
According to Lookonchain statistics, Abraxas Capital just purchased 33,482 ETH for around $84.7 million on May 13. The firm has collected over 211K ETH, worth around $477 million, in the just 6 days, contributing significantly to the recent price spike. Abraxas Capital purchased an additional 33,482 $ETH ($84.7M) in the previous 12 hours, increasing their total acquisitions over the last 6 days to 211,030 $ETH ($477.6 million). https://t.co/qZZkGndZEd pic.twitter.com/mOIdthyWUG • Lookonchain (@lookonchain) May 13, 2025 In the last 24 hours, Ethereum's rise has wiped out almost $240 million in bearish bets, bringing the total liquidation to $387 million
The technical indicators are mainly green, with important moving averages such as the 50, 100, and 200-day EMAs all indicating a buy. The MACD also suggests additional upside potential. However, the RSI is currently at 79, indicating a probable pullback. If the bulls continue to rally, ETH may soon hit the $2,750 resistance level, moving it closer to $3,000. However, if the bears gain control, ETH might fall back to around $2,100. Overall, Ethereum's recovery serves as a reminder of the volatile atmosphere in the cryptocurrency market. The currency may still have room to grow, but with 30-day returns currently at +32.5%, it's worth keeping an eye on future pullbacks. As always, a little patience goes a long way.
