Ethereum broke through the key $2,500 resistance on Friday to reach an 8-month high of $2,660, with an 8% surge occurring within approximately one hour. Whales played a substantial role in this move, as transactions worth over $1 million increased by nearly 14%, while more than 116,000 ETH (approximately $300 million) were withdrawn from exchanges within 48 hours. Despite this impressive rally, bears quickly regained control and ETH fell back to just above $2,500, with significant resistance located between $2,720 and $2,820 where 10 million ETH had previously been acquired. The market faces a major test next week with the Federal Reserve’s interest rate decision and the US Senate vote on the CLARITY Act.
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