As of May 23, 2025, Ethereum (ETH) is trading around 2,530, reflecting a slight dip of approximately 0.972,900 resistance level, suggesting that a breakout could signal a new bullish phase for the cryptocurrency.Recent developments have bolstered Ethereum's outlook. The successful implementation of the Pectra upgrade has enhanced network scalability and staking efficiency, attracting increased institutional interest. Notably, Abraxas Capital withdrew over 61,000 $ETH from exchanges, indicating a long-term bullish stance. Technical indicators are also promising. $ETH is forming a bull flag pattern on the daily chart, with a potential breakout targeting the $4,000 level. Additionally, the 50-day moving average is approaching a golden cross above the 200-day, a pattern historically associated with significant price rallies.

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