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Weekly Ethereum Outlook: Ethereum recovers from a key support level despite macroeconomic challenges:
- What does May hold for Ethereum?
Ethereum's price closed April with a positive return of 7.3%, marking its second consecutive monthly gain this year, as shown in the chart below.
However, monthly trends indicate some signs of optimism. Historically, Ethereum has achieved positive returns in May, with an average gain of 28.54%. This recovery will be further supported if institutional investment flows resume, supportive regulatory developments for the overall cryptocurrency market occur, and the war in the Middle East ends, which could restore investor confidence and risk appetite.
Ethereum Monthly Return Chart (%). Source: CoinGlass
$ETH