Ethereum Surges 38% as Bullish Momentum Reverses Bearish Cycle

Ethereum rebounds 38 percent in two days to $2,350, reclaiming its 50-day moving average and igniting broad altcoin market optimism.

ETH forms a double bottom near $1,405 and surges nearly $700, marking a V-shaped recovery that ends the multi-month bearish cycle.

Strong volume and consistent higher highs confirm Ethereum’s bullish reversal as it retraces over 70 percent of its recent decline.

According to CryptoBullet, Ethereum has roared back to life, gaining over 38% in just two days and reaching $2,350.06 as of early May 2025. The rally follows a deep market correction that drove ETH below $1,500 in April. Now, Ethereum is signaling a decisive trend reversal, sparking renewed confidence across the altcoin market. Moreover, this powerful move has lifted Ethereumabove its 50-day moving average.

V-Shaped Recovery Sparks Optimism

Ethereum’s price action over the past three months has been nothing short of dramatic. In February, ETH hovered near $2,800 before bearish pressure took hold. Prices plunged rapidly through March, slipping under $2,000 and then falling further in April. At one point, ETH touched a low of $1,405, marking a nearly 50% drawdown from its February high.

Source: CryptoBullet

However, buyers stepped in aggressively near this support zone. A double bottom pattern emerged in late April, signaling the end of the downtrend. Ethereum began to rally, reclaiming $1,800 with growing strength. The most intense surge came in mid-May as ETH rocketed nearly $700 higher within days.

Breakout Backed by High Volume

The surge from $1,765 to above $2,400 happened on substantial trading volume, recorded at 68,783 units. This indicates strong participation and renewed investor interest. Several long green candles reflect consistent buying pressure. Additionally, Ethereum has retraced over 70% of its prior decline, a clear sign of recovery strength.

Besides, the price has established a series of higher highs and higher lows since the April bottom. This further confirms the bullish reversal. Moreover, ETH now consolidates in the $2,350 range, preserving the bulk of its gains.

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