🔷After a sluggish April, which saw a decline in network activity, May could bring long-awaited changes for Ethereum. Although ETH’s price remained below $2,000 last month, experts believe it could break through this resistance level in May. IntoTheBlock analyst Gabriel Halm highlights several key factors that could drive growth: increasing capital inflows into spot ETFs, Ethereum’s sustained dominance in DeFi, and the anticipated Pectra upgrade.
🔷However, a sustained ETH rally remains sensitive to external conditions. If U.S. inflation accelerates or the Federal Reserve adopts stricter measures, pressure on the crypto market could intensify. Given ETH’s high correlation with stock indices, any turmoil in traditional markets could also impact the altcoin.