Ethereum’s price has surged past $2,700, reaching a new all-time high. This surge is attributed to the successful Pectra network upgrade, which enhanced Ethereum’s scalability and efficiency. Institutional interest and growing trading volumes are also contributing to this upward momentum. Analysts believe it could reach $3,000 soon if it breaks through resistance levels. The recent price rise has been driven by positive sentiment in the crypto market. Technical analysis shows ETH is staying above its 100-hour Simple Moving Average, indicating a potential continuation of the upward trend. Resistance levels at around $2,700 remain key. If Ethereum surpasses this level, analysts predict further gains, potentially reaching $2,840 or even $2,920. Crypto analyst Vishal Narang believes this recent bullish trend is a classic upward trajectory. However, experts caution that full confidence should be tempered until the price breaks past $2,740. The strong support levels near $2,640 and $2,580 offer traders some relief and confidence. While the market remains sensitive to economic events and crypto-specific news, the current outlook is cautiously optimistic with a potential upward trend as long as Ethereum stays above the $2,540 trendline. However, expert advice emphasizes caution due to the ongoing volatility in the cryptocurrency space.