$ETH Ethereum (ETH) experienced a slight downturn yesterday, May 15, 2025, amidst a broader cooling off in the cryptocurrency market. After a significant rally that saw ETH climb by as much as 80% since early April, profit-taking and a decrease in trading volume contributed to the downward pressure.

Yesterday's trading saw Ethereum decline by approximately 2-3%, with its price hovering around the $2,550 - $2,600 mark. This correction comes after ETH reached levels above $2,700, a key resistance point identified by analysts. While the short-term outlook suggests a potential for further retracement towards support levels around $2,420 or even $2,220, the overall sentiment remains cautiously optimistic.

Several factors influence Ethereum's price. Recently, there has been a notable withdrawal of ETH from exchanges, indicating a move towards self-custody and potentially less selling pressure in the long run. On the technical side, while some indicators suggest overbought conditions in the short term, the breaking of a long-term downtrend still signals underlying bullish momentum.

In the broader crypto market, Bitcoin also saw some consolidation below the $104,000 level. News of institutional inflows into Bitcoin ETFs and predictions of potential outperformance against gold later in the year provided some support. Meanwhile, altcoins showed mixed trends, with some experiencing more significant corrections than others. Investors are also keeping an eye on macroeconomic factors, particularly the US Federal Reserve's stance on interest rates, which can have a cascading effect on the crypto market.