- Ethereum soared past $2,500 with a 6.97% daily gain, reversing a two-month downtrend and signaling renewed investor confidence.
- After consolidating near $1,600, Ethereum broke key resistance at $1,867 and surged over $600 in a single high-volume trading session.
- Tight bid-ask spreads and strong momentum reflect bullish sentiment as Ethereum reclaims ground lost during the March–April correction.
According to BlockNews on X, Ethereum has reclaimed the $2,500 level for the first time in 68 days, marking a sharp 6.97% single-day price jump. The price today is $2,508.71, up $163.35 in the past 24 hours. This sharp spike follows weeks of crazy price fluctuations between $1,400 and $1,900. In this way, Ethereum has reversed a months-long bear trend and rekindled investor excitement. The price action shows strong momentum, supported by tight bid-ask spreads and high trading volume. Moreover, the recovery restores much of the value lost during the March–April correction.
Ethereum’s price analysis, tracked on TradingView, reveals months of erratic movement. March began with Ethereum above $2,200. However, heavy selling pressure quickly dragged prices down. Mid-March saw the asset plunge toward $1,800. Besides a short-lived bounce back to $2,100 in late March, bearish pressure continued. April turned even more painful for holders as Ethereum sank to nearly $1,400. Several large red candles defined this sharp descent.
Support Builds Ahead of Breakout
Ethereum found solid support between $1,500 and $1,600 in late April. Prices traded sideways for several sessions, forming a base. This consolidation phase set the stage for a strong recovery. Early May remained quiet, with price action hovering near $1,800. A key resistance line formed at $1,867.63, halting previous attempts to rally. However, Ethereum finally breached this level during its latest surge.
The most powerful action happened at the end, with a large green candlestick coming out. That vertical breakout took Ethereum from below $1,900 to above $2,500 in a single session. Furthermore, the bid-ask spread narrowed down to just $0.62, indicating immense trading activity and high liquidity.
Market Sentiment Turns Bullish
The sudden price spike reflects renewed market enthusiasm. Besides technical support, broader investor sentiment likely fueled this surge. Ethereum’s recovery follows recent bullish trends in the crypto. The breakout erases much of the March–April decline, reinforcing a bullish outlook. Traders now view $2,500 as a key psychological and technical milestone.
