BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch

by Sham
May 8, 2025
in Crypto, Ethereum, Finance, Opinion
A A
Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch
2
SHARES
Share on TwitterShare on Reddit
  • Abraxas Capital pulled 74,304 ETH worth $135.46 million from Binance and Kraken, signaling bullish sentiment.
  • Ethereum broke above $1,600 and now eyes $2,250 as momentum indicators like RSI surge from 56 to 66.
  • Network activity is up, with TVL rising 41% to $52.8 billion and daily transactions increasing by 22% to 1.34 million.

Ethereum’s caught the eye of some big players lately, with Abraxas Capital diving in heavy through Heka Funds, snapping up ETH in what looks like a calculated bet on a major price surge.

JUST IN: Ethereum $ETH briefly reclaimed $2,000 for the first time in 41 days 🚀 pic.twitter.com/8GwMCvZO0S

— BlockNews (@blocknewsdotcom) May 8, 2025

According to Lookonchain, Abraxas pulled out 74,304 ETH — worth around $135.46 million — from Binance and Kraken. The timing? Not exactly a coincidence. Ethereum just broke free from a six-month downtrend, finally punching through that stubborn $1,600 mark on April 7 as market conditions eased. Now, it’s hovering around $2,000, with analysts watching key resistance levels at $2,250.

Technicals Align, Momentum Picks Up

It’s not just about the whales buying in — the charts are flashing bullish signals too. The Relative Strength Index (RSI) shot up from 56 to 66 in just 24 hours, suggesting buyers are stepping up. The 50-day SMA is now solid support at $1,775, while the 100-day SMA is holding the line at $2,100. And then there’s the 200-day SMA sitting in the $2,500 to $2,800 zone — the last major hurdle before the big $3,000.

Network Growth and Institutional Moves

On the fundamentals side, Ethereum’s not slacking off either. Total value locked (TVL) has jumped 41% in the past month, now sitting at $52.8 billion. Daily transactions are up 22%, hitting 1.34 million — a clear sign that the network’s getting more action.

Ethereum Eth Price Chart

Meanwhile, projects like BlackRock BUIDL, Spark, and Ether.fi are showing renewed interest in Ethereum’s financial ecosystem. Lower fees might be slowing down ETH’s burn rate, but with institutional players like Abraxas Capital coming in strong and on-chain metrics lighting up, Ethereum might just have enough juice to push for that $3,000 mark.

Tags: Abraxas CapitalethereumHeka FundsKrakenLookonchain
Tweet1ShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

Ethereum ETH Hits Biggest Single Day Gain Since May 2024: Here is Why $3K is Next
Crypto

Ethereum ETH Hits Biggest Single Day Gain Since May 2024: Here is Why $3K is Next

May 8, 2025
Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement
Crypto

Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

May 8, 2025
Trump Say Upcoming U.S.-China Trade Negotiations May Lower 145% Tariffs: Here is Why
Finance

Trump Say Upcoming U.S.-China Trade Negotiations May Lower 145% Tariffs: Here is Why

May 8, 2025
Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do
Crypto

Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do

May 8, 2025
$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?
Crypto

$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

May 8, 2025
Cardano ADA On the Verge of a Major Comeback: Here are the Key Levels to Watch
Cardano

Cardano ADA On the Verge of a Major Comeback: Here are the Key Levels to Watch

May 8, 2025
Load More

Related News

Ethereum ETH Hits Biggest Single Day Gain Since May 2024: Here is Why $3K is Next

Ethereum ETH Hits Biggest Single Day Gain Since May 2024: Here is Why $3K is Next

May 8, 2025
Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

Analysts Predict MOG Coin Could 4x as mog/acc Trend Gains Momentum With Elon Musk Endorsement

May 8, 2025
Trump Say Upcoming U.S.-China Trade Negotiations May Lower 145% Tariffs: Here is Why

Trump Say Upcoming U.S.-China Trade Negotiations May Lower 145% Tariffs: Here is Why

May 8, 2025
Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do

Stellar XLM Technical Indicators Suggest Imminent Breakout: Here is What You Need to Do

May 8, 2025
$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

$LTC in a Limbo: Is Litecoin Quietly Gearing Up for a Breakout?

May 8, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX Gary Gensler grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.