As of May 16, 2025, Ethereum (ETH) is trading at approximately $2,594.90, reflecting a 2.5% increase from the previous close. The intraday high reached $2,631.38, while the low was $2,496.89.

This recent surge is attributed to the unwinding of short positions by bearish traders, which has added upward pressure on ETH's price. Additionally, significant institutional interest has been observed, with firms like Abraxas Capital shifting investments from Bitcoin to Ethereum, indicating a shift in market dynamics. The completion of the Pectra upgrade has also bolstered investor confidence by enhancing Ethereum's scalability and staking efficiency .

Looking ahead, i suggest that Ethereum's price could continue to rise, potentially reaching $3,000, driven by factors such as increased institutional adoption and positive market sentiment .