Ethereum Bulls Gobble Up Bears: Chart Goes Yeehaw Past $2,700

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If ever there was a coin more slippery than a greased pig at a county fair, it’d be Ethereum. Six days ago, if you’d told folks it’d leap nearly 50% and be knocking on $2,700’s door, they’d have choked on their sassafras tea. Yet here we are—ETH is prancing up that price chart with the casual air of a gambler who thinks the next card’s always an ace.

Just last week, ETH was floundering beneath $1,800 like Huck Finn with holes in his raft. Now the townsfolk—those “retail investors” who swore up and down that ETH was out of juice—are peeping through the bushes and waiting for the riverboat to dock so they can jump on. What comes next for our wild crypto?

Ethereum has breached $2,700 for the first time since February 23rd. Retail has pivoted from memeing $ETH’s underperformance, to suddenly looking for justifiable entry prices. We discuss the sentiment shift, and what’s next for crypto’s #2 cap. 🤔🤠

— Santiment (@santimentfeed) May 13, 2025

Santiment, the Delphic Oracle of Crypto Twitter, spun out some “exciting insights.” (Their words, not mine.) Remember back yonder in 2017, when folks wagered more than their Sunday biscuits that Ethereum’d outshine Bitcoin? Well, that horse never really finished the race—but here we are still jawing about whether ETH can go from Robin to Batman.

The town’s mood changed faster than a Mississippi storm. Minutes ago, bears were croaking about “Ethereum underperformance,” while the bulls hid in the bushes. Now the bears’ve gone silent as a saloon during a gunfight, and everyone’s hollering for $3,500 like it’s the grand prize at the pie contest. 😏🥧

Ethereum Fees: The Toll Booth Comes Cheap (For Now!)

There’s another player in this melodrama: transaction fees. They’re down to 84 cents per ride—a downright bargain compared to six months ago when getting your ETH across town cost $7. If those fees jump back above $2, this rally could flop like an expired catfish at noon.

Meanwhile, over at Abraxas Capital, they’ve been stacking ETH like firewood for the coming winter. Big spenders! They bought 33,482 ETH (about $84.7 million) on May 13, and the last 6 days have seen their stack swell past 211,000 ETH—some $477 million worth. If anyone’s tilting the scales, it’s those high-rollers. 💰

Abraxas Capital bought another 33,482 $ETH($84.7M) in the past 12 hours, bringing their total purchases over the last 6 days to 211,030 $ETH($477.6M). 😮💸

— Lookonchain (@lookonchain) May 13, 2025

The bears, meanwhile, got rolled over to the tune of $240 million in short bets liquidated—maybe they were hoping ETH was just another Mississippi mirage. The technical gadgets—the moving averages, the MACD or whatever acronym the city boys’ve dreamt up—are all blinking bright green. Only the RSI’s a bit too peppy at 79, suggesting this party could get raided by the sheriff any minute.

If the stampede keeps up, ETH could break through $2,750 and eyeball $3,000 next. If not, a good ol’ bear ambush could tumble it back to the $2,100 holler.

Anyways, this latest Ethereum adventure is a mighty fine reminder that crypto’s mood swings harder than a barn door in a tornado. Whether ETH keeps galloping or gets tripped up, you best keep your wits about you—and maybe a bucket of patience for good measure. 🪙🚀

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2025-05-14 07:56