Ethereum Price Surges 89% to $2,800 Since April as Institutions Increase Holdings

ETH gains momentum as market focus shifts from Bitcoin; breakout may follow retail uncertainty.Key Takeaways:Ethereum is up 89% since April 9, trading near $2,800.Institutional interest has grown following the Pectra upgrade.On-chain activity remains muted despite price rally.Santiment sees a breakout likely if retail sentiment turns overly pessimistic.Ethereum (ETH) has rallied nearly 89% from its April 9 low of $1,472, reaching approximately $2,800 as of June 11, according to BlockBeats. The rebound comes in the wake of Ethereum’s Pectra upgrade, which has sparked renewed interest from institutional investors.On-chain data, however, suggests that retail user activity has not yet surged in parallel with the price rally.According to Santiment analyst Brian Quinlivan, market sentiment is gradually shifting from Bitcoin to Ethereum, creating a setup for a potential breakout. “As retail investors grow anxious over ETH’s repeated failure to hold gains, that’s often when a real breakout is likely to occur,” he said.While institutional holdings in ETH have steadily increased, broader participation and network activity remain subdued. Analysts suggest this divergence could present a prime opportunity if Ethereum overcomes its current resistance levels.