Following a challenging start to the year, Ethereum made a remarkable comeback in Q2, driven by optimism around the Spectra upgrade. Breaking the $2,550 resistance, its potential to reach $2,680 and beyond is capturing traders' attention.
Ethereum had a rough start in 2025, witnessing a 45.41% drop in the first quarter. However, the situation significantly improved in the second quarter, with the altcoin registering a 39.4% gain. This positive performance is closely tied to the deployment of the Pectra upgrade, a key network improvement aimed at enhancing scalability, security, and user experience.
Historically, Ethereum has shown strong performances in the second quarter. The rebound this year is particularly significant as it restores a bullish momentum and sets the stage for a potentially strong second half of the year.
Additionally, a mysterious “whale” on Ethereum caused market turmoil by making an impressive purchase of $75.39 million in ETH on May 26. This is no ordinary investor – the same wallet had previously doubled the ETH in two weeks during a major purchase.
Currently, with past gains of $23.73 million in ETH and already $1.52 million in gains on this latest position, traders and analysts are closely watching the movement of this whale, reinforcing the current bullish sentiment in the market.
At the time of writing, Ethereum has surpassed the resistance level of $2,535, trading at $2,633.26. The one-day chart shows a bullish green candle pushing ETH towards a new uptrend.
Indeed, the Woodies CCI and the RSI are bouncing well, signaling an imminent trend reversal and further bullish continuation.
Furthermore, the strong resistance at the previous peak of $2,867 provides confluence for ETH’s bullish continuation in the coming days.
Above these peaks lie numerous stop losses and short liquidations. There is a high probability that ETH will surge towards $2,900 in the coming days.
If the volume holds and ETH stays above this level, the next target could be the $3,100 threshold.
In summary, with its growth potential towards $2,900 and beyond, the flagship altcoin is generating significant interest among investors. The successful deployment of the Pectra upgrade, coupled with strategic whale purchases, hints at a sustainable bullish trend for ETH.
Acquiring Ethereum (ETH) on Bitget is fast and straightforward. Here are the essential steps to purchase the token before a potential rise of over 10% :
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
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