- ETH surged 37% vs. BTC’s 7.7%, breaking key resistance at 0.02 BTC with a golden cross signal.
- Ethereum’s 50-day SMA breakout hints at trend reversal; holding above 0.02 BTC critical for further gains.
Ethereum (ETH) has recently outpaced Bitcoin (BTC) in price gains, marking a shift after two years of lagging performance. Over two days, ETH rose 37% against BTC’s 7.7%, buoyed by technical indicators and a major network upgrade.
The ETH/BTC trading pair formed rare “golden cross” patterns on one-hour and four-hour charts this week. This occurs when a short-term moving average crosses above a long-term average, often signaling upward momentum.
Ethereum also broke above the 50-day simple moving average (SMA) at 0.02 BTC, a level that previously limited gains. Analysts suggest holding above this threshold could open a path toward the 200-day SMA, a benchmark for long-term trend reversals.
Pectra Upgrade Sparks Momentum
Ethereum’s price surged nearly 30% to $2,489 on Friday, its highest level since early 2024, following the activation of the Pectra upgrade. Developers describe Pectra as Ethereum’s most extensive update since transitioning to proof-of-stake in 2022. While technical details remain complex, the upgrade aims to enhance transaction efficiency and network security.
The rally lifted ETH past $2,000 for the first time in three months, with trading volumes spiking to levels unseen since late 2021. Bitcoin, meanwhile, saw modest gains, highlighting ETH’s standalone momentum.
Ethereum’s rise aligns with broader crypto market gains but faces unique hurdles. The network must maintain upward momentum to counter prolonged underperformance relative to Bitcoin.
Sustaining prices above $2,400 requires absorbing sell orders from investors who bought near previous peaks. Failure to hold $2,200 could trigger consolidation, though current technical signals favor cautious optimism.
Ethereum just had its best day since 2021.
Good morning Ethereum Bulls. pic.twitter.com/S21FhrdbXH
— Arkham (@arkham) May 9, 2025
The Pectra upgrade’s long-term impact remains untested, but its rollout has injected short-term confidence. For ETH to solidify its rebound, it must demonstrate improved utility and adoption—a task that extends beyond technical upgrades.
Ethereum (ETH) is trading at $2,499.20, with a slight daily pullback of -3.33%, after an explosive rally that saw it surge from lows near $1,400 in April to above $2,500. In the last week alone, ETH has risen +36.38%, and over the past month, it has gained a remarkable +64.44%. Despite this rally, ETH is still down -24.90% year-to-date and -14.01% over the last year, indicating it is still recovering from the 2024 correction.
Technically, ETH is approaching a critical supply zone around $2,500–$2,915. A confirmed breakout and daily close above $2,500 could launch ETH into a new bull phase, with near-term upside targets around $2,770 and $2,950, and possible extension toward $3,200. Support is now seen around $2,300–$2,180, the area of the recent breakout.
Fundamentally, Ethereum maintains dominance in the crypto ecosystem:
- It controls 80.17% of the Real World Assets (RWA) market and 51.01% of circulating stablecoins.
- The recent Pectra upgrade has increased wallet flexibility and staking efficiency.
- Analysts project up to $250 billion in capital inflows into crypto, with ETH seen as a top institutional pick—potentially pushing price toward $10,000 before year-end.
- Ethereum’s upcoming Coinbase Ethereum Futures launch (May 9) could expand U.S. institutional exposure dramatically.
