Ethereum (ETH) is in a good place considering that it is up by 1.15% to $2,302 today, May 2. Weekend swings may have something to do with this, but on Friday, a big update happened. Senator Tillis said that there is now a compromise on CLARITY. But with this being something that has been waited upon for so long, where will Ethereum price go?
CLARITY Act Advances Amid Compromise on Stablecoin Yield
CLARITY Act is now one step closer in the corridors of getting to the greenlight. The tussle about yield being paid to those holding stablecoins is cleared. It was this tussle that was causing the bill to not get a markup in the US Senate.
Banks did not want anyone with a stablecoin to benefit from a reward. Coinbase, on the other hand, did not want to have its hands tied. Ethereum price was a casualty of this. Senator Tillis seems to have done quite a task getting the two to shake hands.
Coinbase’s Paul Grewal says there was no need to have this gridlock to begin with. But now that it is out of the way, he hopes there will be no objection.
Galaxy’s Alex Thorn, who earlier said there was only a 50% chance CLARITY passes this year, has also changed tune. He now says a markup will be on May 11. This is barely two weeks from now. For a bill that was feared dead, a markup that is like a week from now is such a good turnaround.
Ethereum Price Eyes $2,500 as Indicators Flip
CLARITY is back on the table again, and now where Ethereum is going next is a hot topic. The price went up by 12% in 30 days, and there is still more in the pipeline. The AO hints at this because of how it has changed to green. And that’s not all, because it is also becoming bigger.
This could mean only one thing. And this is that bulls have a good grip. They are not letting go. And this is what may just let ETH price go up.
Zooming further here shows something else is going on. A falling wedge is appearing. It means that the tide might turn and Ethereum price might just be on the way up. What makes this even more plausible is that just recently, Ethereum was repeating a 2025 move.
As long as buyers are not usurped by sellers, ETH price could just get to $2,500. A long-term Ethereum price forecast says getting above $3,000 might be the next thing that happens.
But there is something else going on. Those buying are stalling now and the RSI is showing this. It is straight, and this only happens when there is not that many buyers now.