$ETH #ETHCrossed2500

As of May 11, 2025, Ethereum (ETH) is experiencing a strong price increase, with the current price around $2,500.

Technical Analysis

Breakout of Technical Pattern: ETH has broken out of a multi-month descending wedge pattern, indicating a clear bullish trend.

Resistance and Support:

Near Resistance: $2,400 – $2,550

Next Resistance: $2,700

Key Support: $2,300 and $2,145

Technical Indicators:

RSI: 72 – indicates that the market is in the overbought zone, which may lead to a short-term correction.

MACD: Bullish crossover signal, confirming the upward momentum.

Trading Volume: Strong increase, with over $1.2 billion traded in the last 24 hours on Binance.

📈 Short-term Forecast

Price Target: If ETH maintains above $2,400, it may head towards the $2,520 – $2,550 range in the short term.

Correction Risk: With RSI at a high level, the possibility of a correction to the $2,300 – $2,250 range may occur if selling pressure increases.

CryptoRank

🧭 Conclusion

Ethereum is in a strong upward trend, supported by both technical and fundamental factors. However, investors should be cautious of the potential for short-term corrections and monitor key support levels to manage risk effectively.