Ethereum ($ETH) Technical Analysis – May 15, 2025
Ethereum has recently shown signs of bullish momentum after a prolonged downtrend, as reflected in the recent breakout above the $2,100 resistance zone. The price action has shifted from a steep downtrend to a possible trend reversal, indicating renewed buying interest.
📊 Key Observations:
Falling Wedge Breakout (Bullish Reversal Pattern)
ETH broke out of a falling wedge pattern earlier this year — a classic bullish reversal signal. This pattern typically suggests that downward momentum is weakening and a potential upside breakout is likely, which played out as expected.
Bearish Continuation Channels (Green Boxes)
Prior to the breakout, ETH traded within a couple of bearish continuation channels, confirming short-term consolidation before resuming the downtrend. These were invalidated after the strong upside breakout past the wedge.
Breakout and Retest Zone – $2,100
The $2,100 level has acted as a significant resistance, now potentially flipped into support. Price action suggests a possible retest of this level, which may serve as a springboard for further upside.
Immediate Resistance – $2,715
ETH recently hit resistance at around $2,714, which aligns with prior horizontal price congestion. If bulls manage to reclaim and hold this level, the path to higher targets (e.g., $3,000+) opens up.
Bullish Scenarios (White Arrows)
The chart illustrates a potential scenario where ETH could:
Retest the $2,100–$2,250 support zone,
Then continue higher toward $2,700 and beyond.
📉 Support Levels to Watch:
$2,100 – Previous resistance, now acting as support
$1,751 / $1,672 – Next key support zones in case of a deeper correction
$1,496 / $1,366 – Historical price clusters during previous consolidation
📈 Market Sentiment & Strategy
With strong bullish patterns forming and a major resistance level broken, ETH could be entering a new mid-term uptrend — but a healthy pullback is possible. Traders should:
Watch for a successful retest of the $2,100 area for long entries.
