ETH Surges 21% Weekly to $2,390, Targets $3,000 Resistance

Ethereum climbed to around $2,390 after a 21% weekly gain, surpassing the average investor cost basis of $2,320 and targeting $3,000 amid renewed bullish momentum. The rally reversed early May pressures from US-Iran talks, where prediction markets showed 100% odds of a drop below $1,900 and just 0.1% for $2,350. By May 3, ETH hit $2,350 as tensions escalated with U.S. freezes of $344 million in Iran-linked assets and institutional ETF inflows flipped sentiment to 99.9% YES above $1,800. Analysts eye a $2,400 breakout but warn of a 7.1 million ETH supply wall at $2,750–$2,850.