ETH Price Prediction: Can ETH Break $2,624 and Rally to $4,570?

#ETH

• Technical Strength: ETH is trading above its 20-day MA and shows bullish MACD momentum.
• Fundamental Support: The Pectra upgrade and whale activity have driven a 42% market cap increase.
• Price Targets: Breaking $2,624 could open the path to $4,570, according to analyst Sophia.

ETH Price Prediction

ETH Technical Analysis: Bullish Signals Emerge

According to BTCC financial analyst Sophia, ethereum (ETH) is currently trading at $2,521.81, above its 20-day moving average (MA) of $2,458.28, indicating a bullish trend. The MACD (12,26,9) shows a positive momentum with the histogram at -63.1002, suggesting potential upward movement. Bollinger Bands reveal that ETH is trading near the upper band at $2,631.60, which could signal overbought conditions but also strong buying interest. Sophia notes that if ETH maintains above the 20-day MA, it could target resistance at $2,624, with a potential rally towards $4,570 in the medium term.

Ethereum Market Sentiment: Mixed but Optimistic

BTCC financial analyst Sophia highlights that Ethereum's market sentiment is mixed but leans optimistic. Recent news includes $8.4 billion inflows into Ethereum, driven by the Pectra upgrade and whale activity, which boosted its market cap by 42%. However, Base chain outflows of $4.3 billion indicate a cross-chain shift. Sophia points out that while ETH dipped below $2,500, its swift recovery and strong weekly rally suggest robust investor demand. The upcoming 'Fusaka' upgrade aims to reduce Layer-2 costs, further supporting bullish sentiment. Sophia believes these factors, combined with technical indicators, could propel ETH towards $2,624 and beyond.

Factors Influencing ETH’s Price

Ethereum Sees $8.4B Inflows as Base Suffers $4.3B Outflow in Cross-Chain Shift

Ethereum has reclaimed its dominance in cross-chain capital flows, absorbing $8.4 billion in net inflows this year while Coinbase's Layer-2 network Base bled $4.3 billion. The reversal marks a stark contrast to 2023, when Base led blockchain inflows with $3.8 billion.

Analytics from Artemis Terminal reveal Base's stablecoin supply has flatlined at $4 billion since mid-May, with decentralized exchange activity slowing in tandem. L2BEAT data shows ether deposits on Base plummeting 54% from 1.82 million ETH in June to 835,000 ETH currently—a trend mirrored across Layer-2 networks.

"Binance's massive withdrawals to L1 account for most of the movement," noted Coinbase's Viktor Bunin, acknowledging the exchange previously held excessive funds on L2s. Market participants remain divided on whether the capital rotation stems from incentive shifts or routine portfolio rebalancing.

Kraken Launches Community Contest to Name Ink Network Mascot via JokeRace Platform

Kraken is leveraging blockchain technology to engage its community in naming the mascot for its Ethereum Layer 2 network, Ink. The contest, hosted on JokeRace, allows participants to submit and vote on name ideas while earning rewards. This initiative underscores Kraken's commitment to fostering community involvement in its ecosystem.

The Ink network, built using the OP Stack, aims to enhance Ethereum's scalability with lower transaction fees. The purple cartoon monster mascot symbolizes the network's identity, and Kraken is turning to its user base to define its character. JokeRace's onchain voting mechanism ensures transparency and decentralized participation.

By integrating gamification and rewards, Kraken is setting a precedent for how crypto projects can cultivate loyalty and creativity among users. The move aligns with broader industry trends where Layer 2 solutions prioritize both technical innovation and community-driven branding.

Ethereum Dips Below $2,500 Amid Strong Weekly Rally

Ethereum has retreated slightly to $2,450 after a 35% weekly surge—its strongest performance since December 2020. The rally appears driven by organic spot demand rather than leveraged speculation, as evidenced by declining open interest and leverage ratios.

Technical support now converges near $2,400, with resistance at the psychological $2,500 level. Market structure remains bullish if ETH maintains this higher trading range, particularly following successful implementation of the Pectra upgrade and improving macroeconomic conditions for risk assets.

Ethereum’s Next Upgrade ‘Fusaka’ Aims to Reduce Layer-2 and Validator Costs

Ethereum's core developers are already shifting focus to Fusaka, the network's next major upgrade, following the successful deployment of Pectra last week. Pectra, the most significant code change since the Merge in 2022, introduced enhancements for institutional staking, wallet accessibility, and transaction efficiency.

Fusaka is expected to include PeerDAS, an Ethereum Improvement Proposal (EIP) designed to support larger "blobs" of transaction data. These blobs, introduced during the Dencun upgrade, store data off-chain to alleviate network congestion. The upgrade could further reduce costs for Layer-2 solutions and validators.

Lido Swiftly Secures Its Network After Critical Oracle Breach

Lido, the dominant liquid staking protocol securing over 25% of Ethereum's staked ETH, contained a security breach over the weekend. The incident involved unauthorized access to an outdated oracle key managed by validator operator Chorus One.

Only 1.46 ETH ($4,200) in gas fees were stolen from the compromised hot wallet. The protocol's rapid response prevented any impact on user funds, demonstrating the resilience of decentralized infrastructure during crises.

Ethereum’s Market Cap Jumps 42% Post-Pectra Upgrade, Surpassing Corporate Giants

Ethereum's market capitalization surged 42% following the successful implementation of the Pectra upgrade, propelling its valuation to $308 billion. This milestone places ETH ahead of blue-chip corporations like Coca-Cola ($303.5B) and Alibaba ($303.7B), now ranking as the world's 39th largest asset according to 8MarketCap data.

The May 7 network enhancement drove ETH's price from $1,786 to $2,550, delivering measurable improvements in transaction throughput and user experience. While the upgrade faced delays from its original March 2025 timeline and encountered testnet issues during February trials, its mainnet deployment proved transformative for Ethereum's market position.

Crypto markets responded enthusiastically to the technical advancements, though the path to implementation revealed the complex challenges of blockchain governance. The upgrade's success underscores Ethereum's continued dominance in smart contract platforms despite growing competition.

Ethereum Surges Over 40% in Four Days Amid Whale Activity and Investor Demand

Ethereum's price skyrocketed more than 40% in just four days, reclaiming February levels as bullish momentum builds. The rally began on May 8, with ETH breaking through $1,800 and swiftly surpassing $2,000. Weekend trading saw no slowdown, pushing prices briefly to $2,600 before settling near $2,549.

Whale transactions and renewed institutional interest fueled the surge. Ethereum's 24-hour trading volume hit $27 billion, with weekly gains exceeding 40% and monthly returns nearing 61%. Despite the rally, ETH remains 48% below its all-time high.

Ethereum Price Prediction: Can ETH Break $2,624 and Rally to $4,570?

Ethereum has surged 42% in a week, reaching $2,584 amid strong buying momentum. The asset now tests a critical Fibonacci level at $2,624.48, with resistance looming at $2,771.40 and $2,896.45. A short squeeze could trigger liquidations exceeding $786 million if ETH holds above $2,586.

Technical patterns suggest sustained bullish momentum. The 'Three White Soldiers' candlestick formation and a confirmed 'rounding bottom' reversal signal potential for an 81% rally toward $4,570. Nearly 67 million ETH holders stand to profit at the $2,557 threshold, creating robust support below current levels.

Ethereum Price Surge Thrills Millions as Profit Threshold Nears

Ethereum's price has surged nearly 40% in the past week, breaking through the $2,500 barrier and edging 6.61 million investors closer to profitability. The rally, fueled by a broader cryptocurrency market uptrend, has left bearish traders scrambling as short positions face liquidation risks. A further 3% climb could jeopardize an additional $800 million in shorts, with analysts warning of impending volatility.

The first week of May saw ETH catapult from $1,812 to $2,584, marking three consecutive bullish sessions. This dramatic ascent reflects growing institutional interest and renewed retail enthusiasm for smart contract platforms. Market observers note the move coincides with improving macroeconomic conditions for risk assets.

Is ETH a good investment?

According to BTCC financial analyst Sophia, Ethereum (ETH) presents a compelling investment opportunity based on current technical and fundamental factors. Below is a summary of key metrics:

Sophia emphasizes that ETH's strong fundamentals, including the Pectra upgrade and whale activity, coupled with bullish technical indicators, suggest potential for further gains. Investors should monitor the $2,624 resistance level for confirmation of a breakout.