Short-Term Forecast (Today)

1. Bullish Momentum:

$ETH is trading within an upward channel, with key resistance at $2,800. A breakout above this level could propel prices toward $2,845–$3,300 in the near term .

- Analysts note strong buyer interest, with RSI (Relative Strength Index) at 62–65, indicating room for further upside before overbought conditions .

2. Support Levels:

- Immediate support lies at $2,564–$2,650. A drop below $2,475 could signal a deeper correction to $2,400 or lower .

- A breakdown below $2,368 would invalidate the bullish trend .

3. Whale Activity & Open Interest:

- Large investors (whales) are accumulating $ETH with open interest in futures/options hitting $33 billion, signaling bullish sentiment .

- A whale recently opened a $60.4 million long position at $2,666, reinforcing confidence in upward momentum .

Key Technical Indicators

- MACD: Bullish crossover on 4-hour charts, supporting further gains .

- Volume: Spot trading volume surged 18% to $12.5 billion, indicating strong demand .

- Ichimoku Cloud: ETH is above the cloud on 4-hour charts, confirming bullish bias .

Catalysts Driving ETH Price

$ETH Speculation: Anticipation of spot Ethereum ETF approvals is fueling institutional interest .

- Layer-2 Growth: Scalability improvements (e.g., Arbitrum, zkSync) are boosting network utility .

- Macro Correlation: Positive Nasdaq performance (+1.3% on May 22) is supporting crypto market sentiment .

Expert Predictions for Today

- Pentoshi (Crypto Trader): A breakout above $2,800 could trigger a rally to $3,300 .

- Forex24.pro: Expects a brief dip to $2,475 before rebounding to $2,845+ .

- Bitget: Targets $2,745–$2,800 if bullish momentum holds .

Risks to Watch

- Failure to hold $2,650 could lead to a retest of $2,400 .

- Overbought RSI may prompt short-term pullbacks .

Summary

ETH is poised for further gains today, with a focus on the $2,800 resistance. A confirmed breakout could accelerate toward $3,000+, while a drop below $2,650 may invite consolidation. Whale activity and ETF optimism are key bullish drivers .

For real-time updates, monitor trading volumes and macroeconomic trends.