Ethereum breaks $2.2K Spell, shows Buyers Exhaustion
By: fxleaders|2025/05/09 13:00:10
0
Share
Ethereum surged, surpassing major altcoins due to strong buying demand in the cryptocurrency market. Since the last week of April, Ethereum has rebounded from a sharp drop in Q1 following President Trump’s tariffs on foreign trading partners. Ethereum has spent more than two weeks settling between the $1,700 and $1,861 ranges. It broke above its upper consolidation boundary around the $1,861 mark and posted double-digit gains. A bullish move was also indicated by the fact that it closed above its descending trendline, which was formed by joining several high levels since early January. As of this writing on Friday, it is leveling off at about $2,200. ETH may rise toward the $2,550 resistance if it maintains the $2,200 support line. A strong move above this resistance might signal the start of a significant recovery. However, the Relative Strength Index (RSI) and the Stochastic Oscillator validate exhaustion. Additionally, both technical indicators in the overbought area allow for a possible short-term correction. Institutions and whales are displaying a preference for the leading altcoin after its rise. Based on data from on-chain alerter Lookonchain, digital asset investment firm Abraxas Capital purchased 49,644 ETH using Binance and Kraken . Ethereum’s exchange reserve has dropped by 132,000 ETH over the last four days, bringing its total decline since April 24 to 323,000 ETH. This indicates that buying pressure is present. Developers hope to release Fusaka amid the upcoming update. Ethereum Foundation (EF) declared that in Q1 of 2025, it gave $32.64 million in grants to several Ethereum ecosystem projects. The funded projects seek to enhance Ethereum in several important areas: the execution layer, protocol growth and support, developer experience and tooling, cryptography and zero knowledge proofs, consensus layer, community and education, and protocol.
You may also like

The Risk Management Core Team has just been ousted, and Aave is now facing a $200 million default.
rsETH attack is just the tip of the iceberg, Aave is an approved insolvency

The $293 million bug wasn't in the code; so, what's the deal with the "DVN Configuration Bug," which led to the largest hack of 2026?
「Audit Passed」 these four words do not cover the location of the parameter.

a16z on Recruitment: How to Choose Between Crypto-Native and Traditional Talent?
Is it someone with encryption experience or someone with outstanding quick learning ability?

The biggest DeFi heist of 2026, hackers easily took advantage of Aave
A fake news story swindled 292 million dollars: Kelp DAO's cross-chain bridge was drained in 46 minutes.

Will Robots Replace Humans? He Says No!
Robots will not replace humans, but will rewrite the division of labor

Binance Coin's Price Skyrockets 15x to All-Time High, Saved by Three Bull Market Lifelines
Bringing Back the Long-Awaited Meme Coin Volatility

The organization has accessed the prediction market, but is stuck at the third stage
The proportion of sports categories on Kalshi is at a historical low, shifting from "entertainment trading" to "information and risk tools."

Head of crypto VC collective shrinks: a16z crypto fund management scale plummets by 40%, Multicoin cut in half
The only one experiencing counter-cyclical growth is Haun Ventures, which hit the jackpot in the stablecoin sector with BVNK being acquired by Mastercard.

Arthur Hayes New Post: It's "No Trade" Time Now
When volatility truly spirals out of control and liquidity is forcefully unleashed, the market will re-enter a tradable phase.

Claude Opus 4.7 Review: Is It Worthy of the Title of Strongest Model?
Opus 4.7 is a surgical, precision-based release with clear trade-offs.

DWF In-Depth Report: AI Outperforms Humans in Yield Farming Optimization in DeFi, But Complex Transactions Still Lag Behind 5x
Across agents, model selection and risk management have the most significant impact on transaction performance.

The financial tricks of the crypto giant Kraken
After Coinbase, several other cryptocurrency exchanges have entered the capital market. Will Wall Street still pay a premium for the same story?

When proactive market makers start to take initiative
After Binance announced the regulation of proactive market makers at the end of March, proactive market makers began to take action.

Massive Whale Movement: Unstaking $84.96 Million in HYPE Tokens
Key Takeaways A crypto whale, known as TechnoRevenant, has unstaked approximately $84.96 million in HYPE tokens. The tokens…

ListaDAO Addresses Third-Party Contract Vulnerability Concerns
Key Takeaways GoPlus Security revealed a vulnerability in a contract resembling those of ListaDAO. ListaDAO confirmed that their…

Security Risks of Fake Ledger Nano S+ Devices Emerging Through Chinese E-Commerce
Key Takeaways Counterfeit Ledger Nano S+ devices are being sold on Chinese e-commerce platforms, posing significant risks to…

Wave of Cyber Attacks Hits DeFi Protocols Post-Drift Hack
Key Takeaways A significant $280 million attack on Drift Protocol set off a chain of security breaches across…

Tom Lee Says ‘Mini Crypto Winter’ Is Over, Sees Ether Above $60K
Key Takeaways: Tom Lee predicts Ether’s resurgence, projecting it to surpass $60,000 in the coming years. Bitmine suffered…
The Risk Management Core Team has just been ousted, and Aave is now facing a $200 million default.
rsETH attack is just the tip of the iceberg, Aave is an approved insolvency
The $293 million bug wasn't in the code; so, what's the deal with the "DVN Configuration Bug," which led to the largest hack of 2026?
「Audit Passed」 these four words do not cover the location of the parameter.
a16z on Recruitment: How to Choose Between Crypto-Native and Traditional Talent?
Is it someone with encryption experience or someone with outstanding quick learning ability?
The biggest DeFi heist of 2026, hackers easily took advantage of Aave
A fake news story swindled 292 million dollars: Kelp DAO's cross-chain bridge was drained in 46 minutes.
Will Robots Replace Humans? He Says No!
Robots will not replace humans, but will rewrite the division of labor
Binance Coin's Price Skyrockets 15x to All-Time High, Saved by Three Bull Market Lifelines
Bringing Back the Long-Awaited Meme Coin Volatility

