According to Milk Road (@MilkRoadDaily), Ethereum ($ETH) rallied over 40% in May 2025, marking its first green month of the year, driven by anticipation for the Pectra upgrade. This significant price movement highlights renewed investor confidence and increased trading volumes, making $ETH a focal point for both short-term and long-term traders. The Pectra upgrade is viewed as a major catalyst, with expectations of improved network efficiency and scalability fueling bullish sentiment across the crypto market. Traders are closely monitoring $ETH's support and resistance levels as the upgrade's implementation date approaches, with potential for increased volatility and liquidity around these milestones (source: Milk Road, June 2, 2025).

According to Michaël van de Poppe (@CryptoMichNL), today marks two major events for traders: the live launch of the ETH Pectra upgrade and the FOMC meeting on monetary policy. The ETH Pectra upgrade is expected to enhance Ethereum's scalability and security, potentially increasing institutional interest and trading volumes (source: @CryptoMichNL). Additionally, the FOMC meeting outcome could lead to significant volatility in both the crypto and traditional markets, as traders react to any changes in interest rate policy (source: @CryptoMichNL). Both events are likely to drive short-term price action in ETH and broader cryptocurrencies.