The altcoin market is experiencing a surge in activity, with Ethereum breaking resistance and setting its sights on a potential $2,400 breakout. The Pectra upgrade, launching on May 7th, 2025, is fueling this optimism as it introduces key improvements for staking efficiency and scalability. This boost has seen Ethereum rebound strongly from a recent low point, with analysts predicting a move towards $2,000 and then the record-high $2,400 mark in early May. Technical indicators are further supporting this bullish sentiment, highlighting potential short liquidations exceeding $317 million if Ethereum sustains a break above $1,800. An increase in on-chain activity adds further credence to trader confidence.