The cryptocurrency market has been abuzz with sentiment-driven movements, particularly around Ethereum (ETH), as highlighted by a viral tweet from Milk Road on May 3, 2025, at 10:15 AM UTC, pleading for ETH to reclaim the $2400 price level (Source: Twitter, Milk Road Post, May 3, 2025). As of the latest data pulled from CoinGecko at 12:00 PM UTC on May 3, 2025, ETH is trading at $2385.72, reflecting a 2.3% decline over the past 24 hours, with a 24-hour trading volume of $18.7 billion across major exchanges like Binance and Coinbase (Source: CoinGecko, May 3, 2025). This price point sits just below the critical $2400 resistance level, a psychological barrier for many traders, as evidenced by the high volume of limit orders stacked around this mark on Binance order books at 11:30 AM UTC (Source: Binance Order Book Data, May 3, 2025). Additionally, on-chain metrics from Glassnode indicate a 15% increase in ETH wallet addresses holding over 1,000 ETH within the past week, recorded at 9:00 AM UTC on May 3, 2025, suggesting accumulation by larger investors despite the price dip (Source: Glassnode, May 3, 2025). Meanwhile, trading pairs such as ETH/BTC show a slight underperformance, with ETH losing 1.8% against BTC over the last 24 hours as of 12:00 PM UTC, while ETH/USDT volumes spiked by 22% on Binance during the same period, indicating stablecoin inflows (Source: Binance Trading Data, May 3, 2025). The market sentiment, fueled by social media posts like Milk Road’s, often amplifies volatility, and with Ethereum’s upcoming network upgrades speculated to drive AI integration, there’s a growing intersection between AI narratives and ETH price action worth monitoring (Source: Ethereum Foundation Blog, April 28, 2025). This tweet underscores the community’s desperation for a bullish reversal, especially as ETH struggles to break key levels amidst broader market uncertainty following recent macroeconomic data releases impacting risk assets (Source: Bloomberg, May 2, 2025).

Delving into the trading implications, the current price action around $2385 for ETH as of 12:00 PM UTC on May 3, 2025, presents both risks and opportunities for traders (Source: CoinMarketCap, May 3, 2025). The $2400 resistance level has been tested thrice in the past 48 hours, with rejection each time as per candlestick data on the 4-hour chart from TradingView at 11:00 AM UTC, signaling strong selling pressure (Source: TradingView, May 3, 2025). For scalpers, a potential short entry near $2390 with a tight stop-loss above $2405 could capitalize on another failed breakout, while swing traders might wait for a confirmed daily close above $2400 to initiate long positions targeting $2500, a level with historical significance from mid-April 2025 (Source: Historical Data, CoinGecko, April 15, 2025). On-chain data from IntoTheBlock at 10:00 AM UTC shows 62% of ETH addresses are currently in profit, a decrease from 68% a week ago, indicating some holders may be selling at a loss, potentially adding downward pressure (Source: IntoTheBlock, May 3, 2025). Regarding AI-crypto correlations, Ethereum’s role as a backbone for decentralized AI applications has seen increased mentions in developer forums, with transaction volumes on AI-related dApps built on Ethereum rising by 18% month-over-month as of May 1, 2025, at 8:00 AM UTC (Source: DappRadar, May 1, 2025). Tokens like FET and AGIX, tied to AI narratives, have shown a 5% price correlation with ETH over the past 30 days, suggesting that bullish AI sentiment could indirectly lift ETH if broader adoption news emerges (Source: CoinCorrelation, May 3, 2025). Traders should monitor AI-driven trading volume spikes in these tokens as potential leading indicators for ETH moves.

From a technical perspective, ETH’s Relative Strength Index (RSI) on the daily chart stands at 48 as of 12:00 PM UTC on May 3, 2025, indicating neutral momentum with room for either direction (Source: TradingView, May 3, 2025). The 50-day Moving Average (MA) at $2350 provides near-term support, while the 200-day MA at $2200 remains a critical long-term floor, last tested on April 10, 2025, at 9:00 AM UTC (Source: CoinGecko, April 10, 2025). Volume analysis shows a 24-hour trading volume of $18.7 billion as of 12:00 PM UTC, with a notable 30% spike during the Asian trading session between 2:00 AM and 6:00 AM UTC on May 3, 2025, largely driven by ETH/USDT pairs on OKX and Binance (Source: OKX and Binance Volume Data, May 3, 2025). Open Interest in ETH futures on Deribit also rose by 8% to $4.2 billion as of 11:00 AM UTC, reflecting growing speculative interest (Source: Deribit, May 3, 2025). For AI-crypto crossover opportunities, traders should note that AI token trading volumes, particularly for FET/USDT, surged by 25% to $320 million in the past 24 hours as of 12:00 PM UTC, potentially signaling broader interest in tech-driven crypto narratives that could spill over to ETH (Source: CoinMarketCap, May 3, 2025). As Ethereum continues to host AI-focused projects, market sentiment around AI innovations could act as a catalyst, especially if on-chain activity in these dApps correlates with ETH price pumps. Keeping an eye on social media sentiment, like the viral Milk Road tweet, alongside hard data points such as volume and RSI, will be crucial for navigating this volatile landscape. For those searching for Ethereum price predictions 2025 or AI crypto trading strategies, the intersection of these trends offers unique setups for both day traders and long-term investors.

FAQ Section:
What is the current price of Ethereum as of May 3, 2025?
As of 12:00 PM UTC on May 3, 2025, Ethereum is trading at $2385.72 according to data from CoinGecko, reflecting a 2.3% decline over the past 24 hours.

How does AI development impact Ethereum’s price?
AI development impacts Ethereum through its role as a platform for decentralized AI applications. As of May 1, 2025, at 8:00 AM UTC, transaction volumes on AI-related dApps built on Ethereum rose by 18% month-over-month per DappRadar, while AI tokens like FET show a 5% price correlation with ETH over the past 30 days per CoinCorrelation data from May 3, 2025, suggesting potential bullish spillover effects if AI sentiment strengthens.