đ #ETHMarketWatch | Ethereum's Bullish Momentum in May 2025$ETH
Ethereum (ETH) is showing renewed strength, currently trading at $2,666.12, with a 24-hour gain of 1.72%. The price has fluctuated between an intraday low of $2,621.16 and a high of $2,721.12.
đ„ Key Market Drivers
Whale Accumulation: Large investors have acquired approximately $2.4 billion worth of ETH within 48 hours, indicating strong confidence in Ethereum's future prospects.
Technical Indicators: ETH is approaching a breakout from a descending channel pattern, with resistance levels at $2,360, $2,560, and potentially $3,450.
Pectra Upgrade: The upcoming Pectra upgrade, expected mid-2025, aims to enhance Ethereum's scalability and user experience by increasing validator staking limits and integrating smart contract functionalities into user accounts.
đ Analyst Predictions
Dennis Liu (Momentum 6): Projects ETH could reach $14,000 by the end of 2025, driven by institutional adoption and ETF inflows.
CoinSurges Forecast: Anticipates ETH hitting a new all-time high of $5,925 in 2025, supported by network upgrades and increased adoption.
Standard Chartered: Revised its year-end ETH price target to $4,000, citing challenges from Layer 2 solutions diverting value from Ethereum's main network.
đ§ Market Sentiment
Ethereum is currently in an oversold territory, similar to past market bottoms, suggesting a potential bullish reversal. The 3-year Stochastic RSI indicates that ETH may be poised for a significant rally. #ETHMarketWatch #ETHERÄ°UM #CryptoNewss #defi $ETH