#ETHMarketWatch ๐Ÿ“ˆ Market Momentum & Technical Outlook

As of May 23, 2025, Ethereum (ETH) is trading at approximately $2,543.83, reflecting a slight decline of 0.04% from the previous close. Earlier today, ETH reached an intraday high of $2,721.12, indicating notable volatility in the market.

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๐Ÿ“ˆ Market Momentum & Technical Outlook

Ethereum has experienced a significant 5.15% surge over the past 24 hours, suggesting a potential shift in market sentiment. Technical indicators show that ETH has surpassed its 20-day exponential moving average (EMA), a bullish signal that may attract further buying interest.

Additionally, the supply of ETH on centralized exchanges has dropped to a 10-year low, indicating that investors are moving their holdings to cold storage or decentralized platforms. This trend often precedes price increases due to reduced selling pressure.

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๐Ÿฆ Institutional Activity & Market Sentiment

Institutional interest in Ethereum remains strong. Notably, BlackRock has recently invested $45 million in ETH, signaling confidence in its long-term value. Furthermore, a prominent trader has taken a $60 million leveraged long position on Ethereum, betting on continued price appreciation.