Ethereum Price Soars by 43% in a Week as MN Funds Founder Highlights Further Upside to $3500

Highlights:

• Ethereum price is up by 43% in a week at $2629.
• Technical indicators of ETH register overbought as a possible correction comes in.
• MN Funds founder sees a possible upside to the price of ETH at $3500.

The price of Ethereum reached the $2700 level and reversed to the current price of $2629. The second biggest altcoin still shows a 4% growth in the last 24 hours, with the mounting bullish sentiment in the crypto space. In addition, crypto market has rebounded back to $3.37 trillion market cap with an increase of 1.04% in the last 24 hours. ETH has witnessed an over 32% movement in the volume traded daily, pointing to high activity in the market. At the same time, ETH has risen by 43% in a week and by 56% in a month, boosting investor confidence. 

Ethereum Price Outlook

From the daily chart outlook, the Ethereum price boasts of a bullish mood. The bulls are back in control shifting from the bears, even upturned the $1843 level, which is also the 50-day MA to immediate support. This provides the bulls with hind wings to test the near-term resistance at $2702.

At the same time, a crypto analyst, Ali Martinez, has singled out some important support and resistance levels to monitor. Ali says “the next resistance area to watch is $3100, while major support lies at $2230 based on the pricing bands.”

The next key resistance area for #Ethereum $ETH is $3,100, while major support is $2,233, based on the pricing bands. pic.twitter.com/IrFd8pKmlR

— Ali (@ali_charts) May 14, 2025

With regard to the bullish look to be solidified in the ETH market, it takes the bulls to eliminate the $ 2702 resistance level. A move above this zone would launch additional gains to the $3100 level. 

On the other hand, the technical indicators are now showing overbought conditions. Relative Strength Index is located at 78.13 which shows intense buying activities. Its status on the 70-level indicates that the altcoin is overbought and that all the traders have to do is watch out for the bull trap. 

It is worth noting that the ETH Moving Average Convergence Divergence supports a buy signal. Even further, it has broken above the orange signal line, which confirms that the traders are free to increase the number of ETH tokens. The green histograms have also risen in height, strengthening the bullish squeeze in the market. 

ETH Derivatives Analysis

Statistically, from CoinGlass data, the outlook for Ethereum is positive, which means that investor confidence is high. The volume of its trading has increased dramatically 35% to $131.71B, the open interest has risen 14% to reach $32.92B. Such spikes in the recent past show high activity in the market, and there is huge investment in Ethereum where investors expect a strong rise in the prices. Further, with fresh money coming into the market, the altcoin can also rise in the next few days. 

The long-to-short ratio is kissing at a 0.9964 level and giving a small kiss to 1. Soon after it breaks above 1, it can cause more bullish momentum, and the price of Ethereum can rise to $3100. At the same time, the CIO and founder of MN Fund pointed out the potential upside of Ethereum. He has encouraged traders to dip-buy. Michael Van de Poppe says that ‘’ the ETH price could retrace slightly, allowing traders to buy the token before it rises to $3500.”

If this happens on $ETH, that would signal a lot of potential upside to come for the entire #Altcoin market.

Buy the dip opportunity. pic.twitter.com/Z7AepLE8kR

— Michaël van de Poppe (@CryptoMichNL) May 14, 2025

On the demerits, with the overbought conditions that prevail in the market, a small correction will do some good to ETH. A turn down to $2588 would be reasonable in such a case. Extensive selling pressure will drive Ethereum to touch the $2400 and $2340 levels on the upside, spiking. Everyone is now looking at the support and resistance zones to know the direction that ETH is going.