Ethereum’s Bullish Surge: Breaking $2,600 with Eyes on $8,000
Ethereum has recently surged past the $2,600 mark, achieving a 3% intraday gain, driven by strong technical support at the 200-day EMA. This rally comes after weeks of consolidation around $2,500, sparking bullish speculation among analysts. Short-term price targets are now set at $2,900, with some long-term forecasts even reaching $8,000. Interestingly, the current upward momentum appears to be largely driven by institutional players, as retail investor participation remains notably absent, according to CryptoQuant data. This development highlights Ethereum’s growing appeal among professional investors and its potential for significant future growth in the cryptocurrency market.
Ethereum Breaks $2,600 Amid Mixed Analyst Sentiment
Ethereum surged past $2,600, marking a 3% intraday gain as technical support at the 200-day EMA fuels bullish speculation. The rally follows weeks of consolidation NEAR $2,500, with some analysts projecting short-term targets of $2,900 and long-term forecasts reaching $8,000.
Market participants note the absence of retail investors despite the upward momentum. CryptoQuant data suggests institutional players may be driving the current move, leaving room for volatility if broader participation emerges. Technical indicators show ETH has cleared critical resistance, though sustained volume remains a watchpoint.
Fact Check: Hasbulla’s $BULLA Token Faces Pump-and-Dump Allegations
In under 19 hours, the memecoin $BULLA, endorsed by internet personality Hasbulla Magomedov, raised over $12.5 million. The token’s rapid presale success has drawn scrutiny from blockchain analysts and investors, who question its legitimacy amid fears of a celebrity-driven pump-and-dump scheme.
Hasbulla’s crypto ventures began during the 2021 NFT boom, with an Ethereum-based collection promising exclusive perks. His latest project, however, has reignited concerns about the sustainability and transparency of influencer-backed digital assets.
Ethereum (ETH) May Remain Consolidated Throughout 2025 if it Fails to Hit $3,000
Ethereum’s price struggles to break through the $2,600 resistance zone for the third time this month, with declining volume threatening its upward momentum. Historical patterns suggest the asset has entered an accumulation phase, potentially delaying a breakout for months.
Technical indicators like the logarithmic regression band highlight key support and resistance levels, painting a cautious picture for ETH’s near-term trajectory. Failure to reclaim $3,000 could condemn the cryptocurrency to prolonged consolidation through 2025.
SharpLink Gaming Surges 400% on Ethereum Treasury Strategy Backed by Consensys
SharpLink Gaming (SBET) shares skyrocketed 412% following its announcement of an Ethereum-based treasury reserve strategy. The Minneapolis-based sports marketing firm plans to allocate $425 million raised through a PIPE offering to acquire Ether (ETH), positioning it as its primary reserve asset.
Ethereum co-founder Joseph Lubin’s Consensys led the funding round, with participation from Pantera Capital, Galaxy Digital, and ONDO Finance. The move signals growing institutional interest in cryptocurrency treasury strategies, particularly among public companies seeking alternative reserve assets.
The private placement is set to close on May 29, potentially setting a precedent for corporate adoption of digital asset treasury management. SharpLink’s market capitalization now stands at $23 million, with shares trading at $34.45 after closing at $7 just days prior.
