As of May 16, 2025, Ethereum $ETH

is trading at approximately $2,595.54, reflecting a modest increase of 2.57% for the day. The intraday high reached $2,631.38, while the low dipped to $2,496.89.

Technical indicators suggest that ETH is experiencing a period of consolidation. The Relative Strength Index (RSI) has declined to 39.31, indicating a potential shift in momentum and suggesting that the recent bullish run may be losing steam .

Despite the current consolidation, Ethereum has shown resilience by maintaining its position above key support levels. The price action indicates that ETH is holding gains following a breakout from a descending channel, with the 4-hour chart showing consolidation around the $2,600 level .

In summary, while Ethereum's immediate momentum appears neutral, the underlying trend remains cautiously bullish. Traders should monitor key support levels around $2,500 and resistance near $2,700 to assess potential breakout or breakdown scenarios.