Crypto technical analyst Mikybull Crypto shared a chart showing the ETH price breaking above a six-month descending trendline, with $2,000 and $2,250 being key resistance levels to watch, saying:“ETH breaking out.”Ether’s price broke above the downtrend line at $1,600 on April 22 when cooling macroeconomic tensions sparked a marketwide recovery. Related: Pectra features already in use: Ethereum EIP-7702 wallets roll outThe 50-day simple moving average (SMA) at $1,775 is now acting as immediate support for Ether’s price. The relative strength index has risen sharply, jumping from 56 to 66 over the last 24 hours, suggesting bullish momentum is picking up.ETH/USD daily chart.
Get ready for a significant price surge! #Ethereum #Bullrun2025 #Crypto pic.twitter.com/MXLBOIRmYF— Crypto Claws (@cryptoclaws_) May 7, 2025Meanwhile, Crypto Salamanca told his X followers that with the latest Pectra upgrade-fueled momentum, “ETH could target $2,150–$2,700 in the coming weeks.”Ethereum onchain metrics show strengthEthereum remains the largest layer-1 blockchain based on the total value locked (TVL) and ranks second in DEX volumes. Ethereum’s TVL has risen from $44.5 billion on April 9 to $52.8 billion on May 8, an increase of over 41% in 30 days.
Ether is setting up for a recovery toward the $3,000 psychological level, backed by recovering network activity, increasing TVL, and strong technicals. Ether price seeks a return to $3KEther (ETH) looks to end its downtrend that has been in play since mid-December after it turned away from its 10-month high of $4,100.
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Author / Journalist: Cointelegraph by Nancy Lubale
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