Ethereum (ETH) survived the largest rally with one day since 2021, rising by 31% in just 24 hours. The service follows the successful implementation of PECTRA modernization, which helped to raise ETH to a decisive resistance level of $ 2500.
However, despite impressive achievements, the problem is whether Ethereum can steadily violate this level, since investor behavior may impede further prices.
Ethereum Pectra Upgrade Goes Live
Pectra update significantly influenced the market sentiments surrounding Ethereum, while the exchanges record a clean influx of $ 15.6 billion from the date of its launch. Only on May 8, ETH was sold in the amount of $ 12 billion, which noted the highest sale for more than five months.
This suggests that investors seek profit after the price spike, potentially weakening the prospects of ETH, which continues its ascending movement. This behavior associated with profit can limit this upward impulse.
The Ethereum macrophy pulse shows both power and potential meetings. IOMAP analysis (ivs around the money around the price) shows that 11.56 million ETH were purchased in the range from $ 2,493 to $ 2,915. This range is crucial, since ETH should violate $ 2500 in order to continue its tendency to increase and block in the latest successes.
Nevertheless, in this range there is significant pressure on the sale, where ETH sits in the amount of $ 27.8 billion. USA. This can contribute to the ability to maintain steady growth, since the risk of large -scale sales at higher prices is loosened.
This price reaches a 2-month maximum
The price of Ethereum is currently trading at $ 2366, which is 31% over the past 24 hours after the Pectra update. This increase in prices led ETH to a 2-month maximum and closer to the resistance level in the amount of $ 2513. The refraction of this barrier will be a key milestone for Ethereum, but the task remains whether it can maintain this movement in the face of the sale of investors.
The difficulty in the intersection of $ 2500 lies in the ongoing sales pressure by investors who have already deduced the benefits from recent income, and from those who can sell if the price continues to grow. Thus, Ethereum can try their best to support its ascending trajectory, perhaps falling below the support of $ 2344. In this script, ETH could check the level of $ 2141, potentially extorting some of the recent successes.
However, if a wider market remains optimistic, and ETH follows the growth of bitcoin for $ 103,000, Ethereum can break through $ 2513 and provide it as an auxiliary floor. This will create the opportunity to further increase the movement by 2654 US dollars, and deprive the current prospect of the bear, signaling that Ethereum can continue to recover to new prices.
