Ethereum (ETH) saw a significant price surge earlier this month, driven by the rollout of the much-anticipated Pectra upgrade, which introduced new scalability and efficiency improvements to the network. The upgrade sparked renewed investor confidence, pushing ETH’s price sharply upward.
However, the rally has since slowed, with the asset entering a consolidation phase. Despite this pause in momentum, ETH remains strong in the green zone, reflecting overall positive sentiment. Currently, ETH is up 1.58% on the daily charts, 2.93% on the weekly charts, and an impressive 5.86% on the 14-day charts.
Over the past month, the cryptocurrency has gained a staggering 46.2%. However, looking at the bigger picture, ETH’s price is still 31.32% below its levels from May 2024. As Ethereum continues to develop its platform through upgrades like Pectra, market analysts are keeping a close eye on how these changes might drive long-term growth and adoption.
When Will Ethereum (ETH) Reclaim $4000?
ETH’s recent rally gained momentum with increased institutional investments in the crypto market. Meanwhile, Bitcoin (BTC) hit a new peak of $111,970 on May 22, driven by the same surge in institutional activity. However, the rally has since lost steam, with BTC’s price dropping to around $108,000 as institutional inflows slowed.
ETH’s Pectra upgrade received strong support from the community, signaling potential for increased burns within the Ethereum ecosystem. Burn rates, which had significantly declined in recent years, may now see a resurgence. Ethereum could experience another bullish run in the coming weeks, especially if the Federal Reserve cuts interest rates at its next meeting, potentially encouraging riskier investments.
Ethereum (ETH) last surpassed the $4000 mark in December 2024 but has seen a notable price drop since then. Based on our technical and price analysis, Ethereum could potentially cross the $4000 threshold again this year. Experts predict that Ethereum may reach $5,882.64 by the end of 2025.
Also Read: Satoshi Nakamoto Becomes 11th Richest Person with $120 Billion in Bitcoin
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
