Ethereum Rallies, Hits New Highs But Stalls Near Resistance

Ethereum’s price surged last week, driven by investor enthusiasm for the network’s Pectra update and a resurgence of risk appetite in digital assets. The cryptocurrency climbed from around $1808 on May 8 to surpass $2600 on May 10, marking a record high. Market observers attribute this significant jump to the expanded staking capabilities introduced by the Pectra update, along with increased interest from institutional investors.