Ethereum (ETH) has recently surged past a key resistance level, reaching approximately $2,721 as of May 23, 2025. This marks a 5.15% increase in just 24 hours, signaling strong bullish momentum in the market.
This recent uptrend has got investors asking whether the current trajectory will pick enough momentum to hit $3,500 by June.
Technical Indicators Point to Continued Growth
Analysts observe that Ethereum is forming a “bull flag” pattern on the daily chart, a technical formation that often precedes further upward movement.
Data from crypto tracking site CoinMarketCap show that ETH’s price has surged more than 44% within the last month. Ethereum’s TVL has also skyrocketed to $65.3 billion, marking a 44% increase in 30 days.
If this pattern holds, ETH could potentially target the $4,000 mark.
Institutional Investment Fuels Momentum
Institutional interest in Ethereum is also growing rapidly. On May 22, 2025, Ethereum ETFs attracted net inflows of $110.5 million, the highest since January, according to data from Farside Investors.
This surge in investment has propelled Ethereum’s market capitalization to $327 billion, surpassing that of Bank of America. Community sentiment also seems to be mostly bullish with 80% of investors predicting an upward momentum in the coming months, according to CoinMarketCap.
Network Upgrades Enhance Ethereum’s Appeal
The recent Pectra upgrade, activated on May 7, 2025, has significantly improved Ethereum’s scalability and staking capabilities.
Key features include increasing the maximum stake limit from 32 ETH to 2,048 ETH and introducing account abstraction, allowing users to pay transaction fees with various tokens.
These enhancements are expected to attract more users and developers to the Ethereum network.
Conclusion
With strong technical indicators, substantial institutional inflows, and recent network enhancements, Ethereum appears poised to challenge the $3,500 mark before June.
Continued bullish momentum and investor confidence could propel ETH beyond this threshold in the coming weeks.
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