Ethereum surpasses $2,500 as analysts predict bullish trends; on-chain data supports potential growth.
- Ethereum’s price surge breaks key resistance, reaching $2,500.
- Analysts see potential undervaluation; ETH up 21% in one day.
- On-chain data suggests bullish trends may continue.
Ethereum Breaks $2,500 with 21% Surge
Ethereum surged past $2,500 on May 9, showing strong market momentum. Analyst predictions varied, with many believing Ethereum is currently undervalued. “Ethereum is significantly undervalued at its current price of around $2,400,” noted Crypto Rover, Crypto Analyst.
Crypto analysts have highlighted the rise, noting its strong May performance. Actions reinforce Ethereum’s bullish position in the crypto market.
Institutional Interest Amplified by Ethereum Growth
Ethereum’s rise impacted institutional interest, with trading volumes increasing significantly. Active addresses saw a 15% increase, reflecting strong network participation.
Financial implications are evident with increased ETH futures trading volume, suggesting significant market interest. Analysts remain optimistic about future growth.
May’s Performance Spurs Bullish Sentiment
Historical data shows May as Ethereum’s best month, reinforcing current positive trends. Analysts compare this to past bullish movements.
Considering data trends, experts foresee more potential price gains, with the low MVRV ratio suggesting undervaluation and possible recovery.
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