Here is a detailed technical analysis of Ethereum (ETH) for Monday, May 12, 2025, based on the latest market data and key indicators:
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🔹 Current price and dynamics
Ethereum is currently trading around $2,562, up more than 40% over the past week, after breaking through the major resistance of **$2,500**. This progression is supported by strong demand in the spot market, with a notable increase in trading volumes on the ETH/USDT pairs, particularly on Binance.
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📊 Technical analysis
Key support: The $2,500 level acts as an important psychological support. The 50-day moving average is at $2,480, reinforcing this threshold as a support zone.
Resistances to watch:
$2,624: 0% Fibonacci retracement level.
$2,771 and $2,896: next identified technical resistances.
$3,000: major psychological target, with indicators such as RSI and Supertrend suggesting a continuation of the bullish trend.
Technical indicators:
The RSI on the 4-hour chart is at 58, indicating room for progression before overbought conditions.
The Money Flow Index (MFI) is at 83.55, signaling buyer dominance.
The Supertrend is positioned below the current price, confirming a bullish trend.
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🔍 Fundamental context
The recent Petra upgrade on May 7 introduced deflationary pressure by removing approximately 38,000 ETH from circulation, attracting institutional interest. Additionally, the trade agreement between the United States and China has strengthened market sentiment, favoring risk assets like Ethereum.
Analysts anticipate significant bullish potential, with projections reaching up to $4,570 if the current trend continues.
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