Ethereum has made a surprising comeback, increasing by almost 50% over the past six days. It fell below $1,800 just a few days ago and is now pushing towards $2,700. Once suspicious, retail investors are now looking for the right moment to dive in. So, what’s next for Ethereum?
Santiment recently shared some exciting insights about Ethereum’s comeback. In 2017, there was talk of Ethereum overtaking Bitcoin as the top crypto, thanks to smart contracts and a developer-friendly ecosystem. It never happened, but the debate over the possibility of Ethereum, which outweighs the benefits of Bitcoin’s first appearance, is still alive.
Ethereum violated $2,700 for the first time since February 23rd. Retail pivoted from a sudden search for a legitimate admission price due to a Memeing $ETH unperformance. We’ll explain the emotional changes and what’s next for Crypto’s #2 Cap: https://t.co/frherewgm5 pic.twitter.com/h8ce8a5zjh
– santiment (@santimentfeed) May 13, 2025
Social emotions have also been reversed quickly. Just before this pump, the Bears were in control. But once the ether is back on track, the suspicious people are silent, and the target is now seeking more than $3,500.
Transaction fees will be reduced
Another factor in watching is the transaction fee. They fell to about $0.84 per transfer. It’s way lower than the $7 range six months ago. However, if prices start to return to more than $2, the gathering could be at risk.
LookOnchain data shows that Abraxas Capital recently purchased 33,482 ETH, worth around $84.7 million on May 13th. The company has accumulated more than 211k ETH worth around $477 million over the past six days, playing a major role in the recent price surge.
Abraxas Capital has purchased an additional $33,482 ETH (84.7m) over the last 12 hours, with a total purchase of $211,030 ETH (477.6m) over the last 6 days.https://t.co/qzzkgndzed pic.twitter.com/moidthywug.com/MoidthyWug
– lookonchain (@lookonchain) May 13, 2025
Ethereum’s Rally has wiped out more than $240 million bearish bets in the last 24 hours, bringing a total liquidation of $387 million. Technical is mostly a flashing green, and important moving averages like Emma for 50, 100 and 200 days are all signaling purchases. MACD suggests a higher possibility. However, RSI is currently 79 years old and refers to a potential pullback.
If the Bulls are in operation, ETH can quickly test a $2,750 resistance and push it to $3,000. However, once the bear is controlled, the ETH could return to the $2,100 range.
Overall, Ethereum’s comeback is a reminder of the wild emotional turmoil in the code. There may still be room for the coin to run, but with a 30-day return already at +32.5%, it’s worth paying attention to the potential pullback. As always, a little patience can go a long way.
