Ethereum Price Surges to $1,820 Today (May 7) as ETH Whale Numbers Skyrocket to 5,000!

Jakarta, Pintu News – Ethereum is entering a crucial week, with technical signals, on-chain data, and major updates all converging.

The Pectra upgrade, scheduled for May 7, aims to improve staking and wallet functionality, but short-term volatility is likely during the launch.

Meanwhile, ETH’s BBTrend stands at 1.22, indicating initial bullish momentum, although it is not yet strong enough to confirm a breakout. On the other hand, whale activity remains steady around 5,463 addresses.

Then, how will Ethereum price move today?

Ethereum Price Up 1.10% in 24 Hours

Source: Pintu Market

As of May 7, 2025, Ethereum (ETH) is priced at approximately $1,824, which is about IDR 30,122,262. This marks a 1.10% increase over the past 24 hours. During this time, ETH reached a low of IDR 29,033,760 and peaked at IDR 30,441,318.

At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $220.28 billion, with daily trading volume rising 39% to $14.9 billion within the last 24 hours.

Ethereum Pectra Upgrade Scheduled for May 7: What to Expect?

Ethereum’s highly anticipated Pectra update will launch on May 7, introducing 11 new Ethereum improvement proposals (EIPs).

EIP-7251 stands out for increasing the staking limit from 32 ETH to 2048 ETH, aiming to simplify validator operations and improve staking efficiency.

The update also includes improvements to the wallet that focus on user experience, such as easier recovery and gasless transactions, which may encourage wider dApp adoption.

While this may increase demand for ETH in the long run, crypto exchanges may temporarily halt ETH transfers during the implementation process, which may cause short-term volatility.

While this update promises significant improvements, it has experienced some delays due to longer testing on networks like Hoodi and Sepolia. A smooth launch can boost confidence and prices, but any technical issues could trigger a negative market reaction.

ETH Trend Signal at 1.22: Is it the Start of an Uptrend or Just Noise?

Ethereum’s BBTrend indicator stands at 1.22, showing mild bullish tendencies. In the last 24 hours, BBTrend reached a high of 2.23, indicating stronger momentum before correcting slightly.

Although the current reading has cooled slightly, it remains positive, indicating that the uptrend has not been canceled. Traders are now monitoring whether BBTrend can rise again to confirm returning strength or if momentum continues to subside.

BBTrend (Band-Break Trend) is a volatility-based indicator designed to detect the strength and direction of price trends. Readings above 1.00 usually indicate a bullish trend, while readings below -1.00 indicate a bearish trend.

Values between -1.00 and 1.00 are considered neutral or no trend, signaling sideways movement or weak conviction in any direction. The further BBTrend moves from zero, the stronger the trend, so values like 2.23 are important for trend confirmation.

With ETH’s BBTrend at 1.22, this indicator shows a weak but positive trend-signaling Ethereum may be entering the early stages of an uptrend.

However, this is not a strong breakout level, which means the price could still reverse if selling pressure increases or momentum fades.

A rise above the 2.00 mark would most likely confirm continued bullish momentum, while a drop below 1.00 could indicate a return to a consolidation phase or even a shift to bearish conditions.

Ethereum Whale Count Now Reaches 5,463

Adding to the broader picture, the number of Ethereum whales – addresses holding between 1,000 and 10,000 ETH – is currently recorded at 5,463.

This number has fluctuated in recent weeks, struggling to break decisively higher. Whale activity is a crucial on-chain signal, as these large holders often influence price movements through accumulation or distribution.

Steady or increasing whale numbers generally signal confidence and long-term accumulation, which could support ETH prices in the coming weeks.

Conversely, a decrease or stagnation in the number of whales may reflect hesitation among large investors, which may limit the upward momentum of prices.

Ethereum Price Prepares for Bullish Launch from $1,800

On the 4-hour price chart (6/5/25), Ethereum’s price trend shows a sideways movement above the $1,755 level. This important zone marks an area of high demand that stretches between $1,754 to $1,765.

With many bounces back, the high-demand area and the 200 EMA line support the upward trend of Ethereum price. On May 6, Ethereum’s sideways movement showed a consolidation range with an upper ceiling near $1,855.

As the ETH price held above $1,800 after an ongoing recovery, the 100 and 200 EMA lines almost gave a positive crossover. However, the RSI indicator reflects a loss of momentum as the consolidation range expands further.

Now, the 4-hour RSI line is struggling to cross the center line. Based on the Fibonacci levels, a bullish breakout from the upper ceiling at $1,855 is likely to test the 78.60% Fibonacci level near $1,949.

Optimistically, this uptrend could reach the $2,100 level, close to the previous swing high. On the other hand, important support below $1,755 remains at $1,676.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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