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Ethereum ETHUSD showed the most significant intraday rise since 2021. It strengthened by 31% in just one day. The jump occurred thanks to the successful update of Pectra.
The latest price jump helped ETH approach an important resistance level of $2,500. However, the question remains: will Ethereum be able to overcome this level and establish itself above it? Investor behavior may pose a barrier to further price rise.
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Pectra update has been successfully launched.
The Pectra update has significantly affected market sentiment towards Ethereum. Exchanges recorded a net inflow of $15.6 billion since its launch. On May 8 alone, ETH worth $12 billion was sold, marking the largest single-day sale in over five months. This indicates that investors are eager to lock in profits after the price surge. Such behavior may weaken the prospects for further rise of ETH.