Key Notes
- ETH jumped 17% in 24 hours, breaking previous the $2,000 stage.
- Buying and selling quantity soared 108% to $38.4B, signaling contemporary market enthusiasm.
- A whale opened a $17.5M leveraged lengthy on ETH by way of Hyperliquid, fueling bullish momentum.
Ethereum
ETH
$1 845
24h volatility:
2.6%
Market cap:
$222.72 B
Vol. 24h:
$14.22 B
has lastly snapped out of its months-long consolidation, posting an enormous 17% surge up to now 24 hours to commerce at $2,249. The transfer comes as a shock to many locally who had been criticizing ETH’s stagnation beneath $2,000 since early March.
The rally has additionally triggered a 108% spike in buying and selling quantity, now totaling $38.4 billion — an indication of renewed investor curiosity.
Common crypto analyst Ali Martinez identified on X that Ethereum is once more testing the $2,100-$2,300 vary — a crucial zone that has acted as each help and resistance for the token.
It is a essential stage for #Ethereum $ETH! pic.twitter.com/c0pWVssYY3
— Ali (@ali_charts) May 9, 2025
That is the fifth time ETH has hit this stage up to now yr. “Clearing $2,380 might ignite a brand new bull rally,” Martinez wrote. Crypto dealer Mister Crypto additionally echoed bullish sentiment, stating it’s “time for an enormous rally.”
Including weight to that narrative, knowledge from LookonChain revealed {that a} crypto whale opened an enormous lengthy place on ETH. The investor transferred 8.58 million USDC into Hyperliquid with 2x leverage and later added one other 8.88 million USDC.
This whale appears extraordinarily bullish on $ETH!
He simply deposited one other 8.88M $USDC so as to add to his $ETH lengthy place.
His present place has reached 17,702 $ETH($36.3M), with an unrealized revenue of over $1.4M.https://t.co/VCde0KmqRbhttps://t.co/vBLsnd0EA1 pic.twitter.com/IXoHLo26YN
— Lookonchain (@lookonchain) May 8, 2025
The place now stands at 17,702 ETH price $36.3 million, a transparent sign of rising confidence amongst huge buyers.
Eth value outlook
The current Ether price zone mirrors ranges seen in November 2023, which ultimately led a rally to over $4,000. If historical past repeats, the second-largest cryptocurrency is likely to be organising for an additional explosive transfer.
On the each day chart, ETH has seen a pointy breakout above the higher Bollinger Band, indicating robust upward momentum. If the worth drops to the mid band (20-day SMA), merchants might see a short-term consolidation. Key help lies on the decrease band round $1,825.
ETH value chart with RSI and Bollinger bands | Supply: TradingView
The RSI stands at 79, firmly in overbought territory. Whereas this might point out a possible pullback, sustained RSI ranges typically accompany strong bull phases.
In the meantime, the MACD has confirmed a bullish crossover, with the MACD line shifting sharply above the sign line.
ETH value chart with MACD | Supply: TradingView
The bull case can also be supported by growing histogram bars. If ETH breaks above the crucial resistance at $2,380, it might set off a rally towards $2,600 and past.
Disclaimer: Coinspeaker is dedicated to offering unbiased and clear reporting. This text goals to ship correct and well timed data however shouldn’t be taken as monetary or funding recommendation. Since market situations can change quickly, we encourage you to confirm data by yourself and seek the advice of with knowledgeable earlier than making any selections primarily based on this content material.
A crypto journalist with over 5 years of expertise within the trade, Parth has labored with main media retailers within the crypto and finance world, gathering expertise and experience within the house after surviving bear and bull markets through the years. Parth can also be an writer of 4 self-published books.
