After a furious breakout from the $2,000 range, Ethereum prices are currently trading at $2,585, and are back modestly back after facing resistance. On the four-hour chart, ETH is consolidating within a downward channel to protect the Bulls’ zones between $2,560 and $2,570. This area serves as dynamic support for now.
Ethusd Price Dynamics (Source: TradingView)
In the higher time frame, breakouts over $2,400 caused a vertical rally, pushing up prices above the $2,745 (from the $4,100-1,385 range) of 0.5 Fibonacci retracement. The price of Ethereum today is slightly cooled, but the upward construction remains intact unless the ETH is below $2,500.
Ethusd Price Dynamics (Source: TradingView)
Notably, the RSI on the 30-minute chart is neutral at 45.5, suggesting that MACD continues to flush weak bearish crossovers, suggesting that momentum is waning but not reversed.
Ethereum price update: Can the Bulls push past $2,700 again?
Ethusd Price Dynamics (Source: TradingView)
On the daily chart, ETH is split from a six-month downtrend line, with a massive amount of resistance zones clearing around $2,200 and $2,400. The $2,710 zone rejection coincides with the bearish order block starting in January 2024, and is at a critical level around sustained progress.
Ethusd Price Dynamics (Source: TradingView)
Ethereum’s price action shows a strong bullish structure supported by a higher low and a basic breakout. However, after such extended moves, some Ethereum price volatility is expected. The unilateral cloud of the 4H frame remains solidly bullish as prices are held above Kijunsen and Tenkansen, but minor corrections have been made. Nearly 80 Stoch RSIs suggest a more likely cooling stage.
If ETH is maintained beyond short-term uptrend support, nearly $2,560, another rally to the $2,710-$2,745 resistance band could be on the card. However, if you can’t keep this area, you might get a drop triggered in your $2,500 liquidity pocket. Under this, the following support levels are $2,385 (4H EMA50) and $2,186 (4H EMA100).
Why are Ethereum prices falling today?
Ethusd Price Dynamics (Source: TradingView)
The current cooldown comes from gaining profits after nearly 35% meetings within a week. The 4H frame MACD is also flattened, with bullish momentum decreasing as the histogram bar fades. Still, there is no confirmed reversal. Only a trend pause.
Ethusd Price Dynamics (Source: TradingView)
For the remaining weeks, price action will be determined by whether ETH will regain a $2,620 resistance and break beyond the $2,710 cap. A clean break will then target $2,850, with $3,025 sitting near the 0.618 FIB retracement. On the downside, look at $2,500 and $2,385.
Ethereum forecast table: ETH key level
A May 14 analysis highlighted the possibility that ETH could recover $2,500 and move to $2,700. That setup played accurately and confirmed bullish bias. Currently, as ETH hoveres in tight bands, traders need to monitor whether the price is maintained above the 4H 20-EMA and either raise or pause another leg for a re-accumulation of under $2,700.
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