On May 12, 2025, Ethereum (ETH) continues its upward momentum that began in early May. After surpassing the $1,800 mark on May 8, ETH reached an annual high near $2,604. Currently, the price of ETH is approximately $2,465.51, with an intraday range between $2,452.84 and $2,587.64.
Technical Analysis and Outlook
The recent rise of ETH is attributed to a breakout above descending trendlines on the daily and 4-hour charts, as well as a strong volume breakout from a symmetrical triangle formation observed on May 8. However, signs of intraday exhaustion suggest a possible short-term correction.
Forecasts for the week of May 12 to 16, 2025, indicate an attempt at a bearish correction, with a test of the support zone around $1,785. A rebound from this level could lead to a recovery towards the $2,885 area.
Fundamental Factors
Several elements support ETH's bullish trend:
Institutional Adoption: Inflows into the Grayscale Ethereum Trust (ETHE) have increased by 12% week over week.
Transaction Volume: The spot volume of ETH on Coinbase reached $3.8 billion on May 11, reflecting strong market interest.
Long-term Outlook: Some analysts predict that ETH could reach $12,000 in 2025, supported by institutional adoption, the expansion of decentralized finance (DeFi), and improvements to the Ethereum network.
In summary, although a short-term correction is possible, the medium and long-term outlook for Ethereum remains optimistic, supported by strong technical and fundamental factors.