Ethereum on May 24, 2025: Will the Bullish Trend Persist?

Analysis of Ethereum’s developments on May 24, 2025, focusing on the Pectra hard fork and price trends.

On May 24, 2025, Ethereum remains a cornerstone of the crypto market. Its price oscillated between $2,650 and $2,740, reflecting efforts to break key resistance levels. A major factor influencing Ethereum is the anticipated Pectra hard fork, set to launch on the mainnet in May 2025. This upgrade aims to enhance scalability and reduce transaction costs, potentially boosting Ethereum’s adoption in DeFi and NFT applications. Additionally, global economic policies and supportive statements from figures like U.S. President Donald Trump, who has endorsed cryptocurrencies, have bolstered market optimism. Recent whale purchases, exceeding 340,000 ETH in the past few days, indicate strong confidence from large investors in Ethereum’s future. However, Ethereum faces challenges. Competition from blockchains like Solana, which offers higher speed and lower costs, has put pressure on Ethereum. Analysts note that the cup-and-handle pattern in the SOL/ETH pair suggests Solana’s temporary dominance, though Ethereum’s upcoming upgrades could reverse this trend. From a technical perspective, Ethereum faces significant resistance in the $2,700–$2,740 range on the daily timeframe. Breaking this could push prices toward $3,000. However, short-term risks, such as volatility from monetary policies or reduced risk appetite in broader markets, persist. Overall, Ethereum’s robust infrastructure and vast ecosystem make it an attractive investment. Investors should monitor key support at $2,500 and resistance at $2,740. The Pectra hard fork could be a turning point, but its success hinges on flawless execution and widespread adoption.