Ethereum (ETH) Price Prediction for May 18: Can Bulls Reclaim $2,600 or Is More Downside Ahead?

Ethereum price today is trading around $2,495, reflecting a steady decline from the recent high of $2,737 posted earlier this week. Despite a powerful breakout from the $1,800 zone that triggered one of the strongest Ethereum price spikes of the quarter, upside momentum is showing early signs of exhaustion near the key resistance band around $2,600–$2,750. The 38.2% Fibonacci retracement on the weekly chart has now turned into a battleground. What’s Happening With Ethereum’s Price? ETHUSD price dynamics (Source: TradingView) On the weekly chart, Ethereum price action is facing supply pressure after reclaiming the 0.236 Fib level at $2,027 and tapping the 0.382 level at $2,424. This area around $2,400–$2,500 coincides with heavy prior consolidation seen in 2023, making it a crucial pivot for bulls. The current candle shows a long upper wick and a small body, indicating hesitation at this resistance. ETHUSD price dynamics (Source: TradingView) Zooming into the daily chart, the recent breakout above the descending trendline has lost momentum just ahead of the next major red zone near $2,745 (Fib 0.5 level). This matches with rejection candles on May 14–… The post Ethereum (ETH) Price Prediction for May 18: Can Bulls Reclaim $2,600 or Is More Downside Ahead? appeared first on Coin Edition .

Source: Coin Edition