Ethereum back to $3K in May? Latest rebound says ETH price 'still has more gas'

16 hours ago

Key points:

Ether terms roseate 3% to $2,550 connected May 18, triggering $22 cardinal successful abbreviated ETH liquidations.
A bull emblem connected the illustration suggests a $3,700 target, with analysts predicting Bitcoin’s terms to spell arsenic precocious arsenic $5,000 successful May.

Ether’s (ETH) terms was up connected May 18, rising much than 2.5% implicit the past 24 hours to commercialized astatine $2,536. This betterment reinforces the optimism among traders that ETH terms could deed $3,000 successful May, citing beardown technicals.

Ether wipes retired $7.5 cardinal shorts successful an hour

Data from Cointelegraph Markets Pro and Bitsamp shows that ETH roseate by much than 4.5% to an intraday precocious of $2,551 connected May 18 from a debased of $2,440 the erstwhile day.

Cryptocurrencies, Markets, Market Analysis, Ether Price, Ethereum Price

Accompanying Ether’s losses contiguous are important liquidations crossed the crypto market. According to information from CoinGlass, much than $158 cardinal leveraged crypto positions person been liquidated implicit the past 24 hours, with $95 cardinal representing agelong liquidations.

Short Ether liquidations amounted to $22.25 million, with the $7.5 cardinal being wiped retired successful the past hr alone.

This means that abbreviated traders were caught disconnected defender by Ether’s instrumentality to $2,500.

Additional CoinGlass information showed respective bands of seller involvement supra the spot price, with inquire orders worthy implicit $384 cardinal gathering up each the mode up to $3,000. This suggested that the ongoing betterment mightiness beryllium capped astatine this level.

Is Ether’s betterment back?

Market analysts judge Ether’s caller driblet was a method correction to retest cardinal enactment levels earlier continuing its uptrend toward $3,000 and beyond.

Titan of Crypto said that the play Stochastic RSI’s worth astatine 79 suggests that ETH “still has much state successful the tank” to determination higher.

#Ethereum mightiness inactive person much state successful the vessel ⛽️

The play Stochastic RSI suggests there's inactive country earlier reaching utmost overbought territory, perchance a fewer much weeks to go. #ETH pic.twitter.com/atCm93napO

— Titan of Crypto (@Washigorira) May 17, 2025

Ether’s downside whitethorn beryllium capped astatine $2,400, according to pseudonymous expert Chimp of the North.

The expert shared a illustration suggesting that the altcoin could proceed its retracement to retest $2,400 enactment earlier launching different rally toward the $3,000-$3,300 range.

Fellow expert Crypto Patel projected a deeper retracement for Ether, saying that ETH terms could perchance driblet $1,800 earlier launching a determination higher.

“This country is simply a high-probability portion for bullish re-entry if terms shows support,” the expert wrote arsenic portion of a May 17 station of X, adding:

“If request holds here, the adjacent limb up toward $4,000–$5,000 could follow.”

As Cointelegraph reported, ETH could hit caller all-time highs astir $5,000, fueled by AI adoption, spot ETF inflows, and the latest improvements done the Pectra upgrade.

Ether terms bull emblem is inactive successful play

From a method perspective, ETH terms is inactive trading supra a bull flag signifier successful the four-hour timeframe, a bullish setup that forms aft the terms consolidates wrong a down-sloping scope pursuing a crisp terms rise.

The bull emblem was confirmed connected May 13 erstwhile the terms broke supra the precocious trendline astatine $2,550. Ether is present retesting the precocious bound of the flag, presently astatine $2,470, which is acting arsenic contiguous support.

A regular candlestick adjacent supra this level could spot the plus resume its uptrend toward the method people of the bull emblem astatine $3,720, up 50% from the existent price.

Conversely, the RSI has dropped from 60 to 42 implicit the past 24 hours, suggesting that the ongoing correction whitethorn proceed if profit-taking intensifies.

A regular candlestick adjacent beneath the enactment level astatine $2,470 volition summation the chances of a terms driblet to $2,400 and past to the flag’s little bound astatine $2,300.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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