May 22 Ethereum ($ETH) Price Prediction: Can the Bulls Maintain Break Above $2,550!!! $ETH

May 22 Ethereum ($ETH) Price Prediction: Can the bulls hold the breakthrough above $2,550? Following last week's explosive rise, Ethereum is trading around $2,558 today, up 0.26% in the past 24 hours.

Although buyers pushed Ethereum up to $2,615 on May 20, the momentum faded near the key resistance level, leading to a slight pullback. As volatility tightens and low time frame indicators send mixed signals, traders are assessing whether the bulls can maintain the upward momentum or if a short-term pullback is imminent.

After this pullback, a broader question arises: Why did Ethereum's price drop today? Is this pullback a brief respite in a bullish trend continuation, or the beginning of a deeper correction? What is the price trend of Ethereum? From a daily chart perspective, since returning to the $2,400 level in early May, Ethereum's price trend has remained bullish.

A significant breakthrough of the downward trend line and reclaiming the 100-day moving average has currently converted the previous resistance level into a support level. The daily chart shows that ETH is attempting to form a higher high pattern, testing the upper limit of the supply range between $2,580 and $2,620, which constrains ETH's upside potential.

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