Ethereum recently moved past Coca-Cola in total market value. After more than a 12% price increase over the past week, ETH has outperformed the crypto market, which has risen by 2.2%. This recent price surge ranks Ethereum among the most valuable assets.
According to data from CompaniesMarketCap, Ethereum advanced to the 34th position among global assets. Previously, it was briefly ahead of Chinese company Alibaba during intraday trading. Although Alibaba reclaimed its spot, ETH’s ascent past Coca-Cola indicates the growing influence of digital assets in traditional financial circles.
Technical Indicators Support
Ethereum continues to trade within a well-defined ascending channel, according to the 1-hour chart published by CryptoCaesarTA on May 16, 2025. Currently priced around $2,590, ETH is consolidating after a sharp rally that began on May 9. It is finding both support and resistance within structured zones.
The chart reveals a persistent bullish market structure supported by a rising channel. Price is respecting both the upper and lower trendlines. Multiple Break of Structure (BOS) and Change of Character (CHoCH) signals indicate a dynamic battle between buyers and sellers, with bullish momentum largely holding the upper hand. The most recent BOS at the $2,530–$2,540 level confirms the validity of the upward trajectory. This suggests that higher lows are being defended aggressively.
Two supply and demand zones are highlighted. A key resistance area exists between $2,640 and $2,720, overlapping with a previously identified “weak high.” The zone has been tested multiple times but not decisively broken, implying strong sell pressure or profit-taking activity from short-term traders. Until this zone is cleared with volume, Ethereum could remain range-bound within the upper channel range.
On the downside, support exists around the $2,470–$2,500 level, reinforced by a visible demand zone and multiple prior CHoCH signals. A breakdown below this region would invalidate the short-term bullish structure and potentially trigger a deeper retracement toward the $2,400 zone.
Firm Buys 278,639 ETH
Another bullish signal came from the traditional finance world this week, as a prominent UK-based asset manager disclosed an Ethereum purchase totaling 278,639 ETH. Abraxas Capital is the firm behind this deal. Moreover, it demonstrates institutional confidence in Ethereum’s long-term value proposition. The acquisition, valued at over $655 million at present rates, represents one of the largest known ETH purchases by a single institution this year. It follows a string of similar moves from U.S. and European funds seeking exposure to Ethereum amid growing clarity on regulatory treatment.
Ethereum remains crucial for decentralized finance and web3 development, prompting traditional institutions to increasingly invest in its potential. Technological upgrades and institutional support could help Ethereum sustain its upward momentum. Technical indicators further support this trend.
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