Ethereum experienced a significant surge in May, climbing above the $2,000 mark and setting its sights on $2,490 as the next resistance point. Crypto Rover notes a remarkable 30.24% increase for Ethereum in May, indicating strong growth potential for the cryptocurrency. Key Support & Moving Average analysis suggests sustained bullish momentum compared to Bitcoin’s recent price fluctuations. After months of market weakness and selling pressure, Ethereum is regaining lost ground with this rally. Optimism has returned, particularly as Bitcoin’s price nears its all-time high, prompting a shift from bearish sentiment. However, traders are now examining if the upward trend can persist. Crypto Rover believes that major Ethereum holders have already sold off their holdings and that those still holding will reap significant rewards. His analysis showcases the growing confidence in Ethereum’s potential to maintain this bullish trend. He also shared a chart highlighting Ethereum’s impressive monthly performance, with May 2023 achieving a remarkable 30.24% gain after a downturn earlier in the year.