#Ethereum Hovers Below Critical Resistance as Momentum Wanes

Ethereum (ETH) is approaching a pivotal moment on the daily chart, currently trading just below a key resistance zone between $2,518 and $2,538. Recent price action shows signs of consolidation, and traders are watching closely to see if ETH can break through or face another rejection.

Technical indicators offer a mixed outlook. The RSI recently pulled back from overbought levels, suggesting bullish momentum is cooling. Meanwhile, the MACD remains in positive territory, but narrowing histogram bars hint at weakening buying pressure. Ethereum's price is also hovering near its 9-day EMA, while the 20-day EMA continues trending upward—pointing to overall strength but a potential pause in the trend.

If bulls can reclaim and hold the $2,538 level, a breakout toward $2,600 becomes more likely. Otherwise, failure to hold support at $2,439 could open the door for a drop toward $2,398, $2,370, or even $2,349. Long traders may look for confirmation above resistance, while short sellers could be eyeing signs of rejection for a tactical move downward. $ETH #ETH

Read the full analysis: www.ecoinimist.com/2025/05/19/ethereum-make-or-break-moment-2-5-k