$ETH
#Ethereum #CryptoMarket #BullishMomentum #TechnicalAnalysis #CryptoTrading
Ethereum’s Significant Rally and Record Engagement
Ethereum has recently surged to a high of $2,800, reinvigorating the market’s interest in this leading cryptocurrency. Despite a current attempt to stabilize above $2,500, the price action is just the tip of the iceberg. According to pundit news, this period might represent a pivotal technical and on-chain moment for Ethereum.
Weekly Engagement Reaches New Heights
Crypto Patel, a noted crypto analyst, claims that Ethereum’s weekly engagement has shattered previous records, with unique user interactions peaking. The latest data shows an impressive count of 17.4 million weekly active addresses, up by nearly 17% in a mere week. May 2025 alone marked a significant uptick in user engagement, consistently hitting over 15 million active addresses. The adoption rate of Ethereum’s Layer 2 solutions has also seen a substantial rise, now at a 7.55x multiplier, a boost of 18.63% recently.
Patel emphasized the importance of these metrics, suggesting that Ethereum’s momentum is rapidly building, potentially gearing up for a significant upward movement. “It’s impossible to ignore $ETH right now,” he stated, signaling a bullish outlook despite a slight 4.31% drop in cross-chain activity last week.
Analyst Forecasts a Stellar Price Range for Ethereum
Further complementing this robust on-chain activity, another crypto analyst, XForceGlobal, provided a bullish technical forecast based on Elliott Wave analysis. They observed that Ethereum has completed a complex corrective structure and is poised for an impulsive phase. This analysis suggests a potential rise in Ethereum’s price, targeting between $9,000 and $10,000 in the upcoming period.
The bearish scenario seems to be off the table as Ethereum engages in a promising bullish B wave, with XForceGlobal pinpointing a specific target of $9,410. However, they also caution about a possible fallback to the $576 zone if the C corrective wave unfolds. Nevertheless, the prevailing wave structure leans more towards a bullish surge.
At the moment, Ethereum trades at $2,493, with a recent peak at $2,537, reflecting a dynamic and potentially lucrative market phase. For more detailed financial insights, visit [Financier News](https://www.financier.news/).
To learn more about Ethereum and other cryptocurrencies, consider visiting [Binance](https://www.binance.com/), where a wide array of resources is available to help you stay informed and make educated trading decisions.
Comments are closed.