The Ethereum price today is trading around $2,445, following a sharp surge earlier this week that brought ETH to a local high of $2,623. After this bullish breakout, the market is showing signs of consolidation as sellers test the newly formed support around $2,420. This level sits just above the 38.2% Fibonacci retracement ($2,424) on the weekly chart — a zone critical for sustaining upward Ethereum price action.
From a weekly perspective, Ethereum remains above both the 23.6% and 38.2% retracement levels, signaling a structurally bullish recovery from its March lows near $1,385. However, a decisive move above the 50% zone at $2,745 would be needed to confirm a broader trend reversal.
Ethereum Price Action Faces Pullback in Bullish Flag Formation
On the 4-hour chart, Ethereum appears to be forming a bullish flag — a continuation pattern, after its strong vertical move from $2,100 to $2,600. Price is currently correcting within a descending channel, trading near the lower bound. If bulls defend the $2,420–$2,430 support cluster (which aligns with EMA20 and lower B…
The post Ethereum (ETH) Price Prediction for May 14 appeared first on Coin Edition.
