Ethereum (ETH) Price Prediction: Holding Firm Near $2,592 After Tagging Highs

Following last week's explosive breakout from the $1,900 consolidation zone, ETH has entered a sideways grind below the $2,600–$2,700 resistance cluster, signaling the potential for short-term indecision as traders digest recent gains. Despite the stall, ETH remains in a strong uptrend across all major timeframes, with the broader sentiment supported by a bullish break above multi-month descending trendlines.

The Ethereum price today is holding firm near $2,592 after tagging highs around $2,595 during the early Asian session. Following last week’s explosive breakout from the $1,900 consolidation zone, ETH has entered a sideways grind below the $2,600–$2,700 resistance cluster, signaling the potential for short-term indecision as traders digest recent gains.

However, despite the stall, ETH remains in a strong uptrend across all major timeframes, with the broader sentiment supported by a bullish break above multi-month descending trendlines.

Ethereum Price Action Turns Sideways Below $2,600 Ceiling

On the 4-hour chart, Ethereum price action shows a bullish breakout continuation pattern, having cleared a descending trendline near $2,500 earlier this week. The current range-bound behavior under $2,600 appears to be a temporary consolidation.

Price is now testing the upper Bollinger Band at $2,576 while hovering above the 20-EMA ($2,556) and 50-EMA ($2,421), reinforcing near-term bullish control.

Key resistance remains between $2,625 and $2,705, a zone marked by multiple historical supply rejections and the upper band of the Bollinger structure. A break above $2,705 could unlock a retest of $2,731, as marked on the 4-hour trendline chart, and potentially open a run toward the $2,850–$2,900 zone.

However, if the pair fails to breach $2,625, short-term downside could target support at $2,510, followed by the ascending zone near $2,445.

Indicators Show Strength, But Upside May Slow

The Relative Strength Index (RSI) on the 30-minute chart currently reads 62.93, approaching overbought territory, suggesting room for slight cooling. The MACD remains in bullish alignment, with the histogram showing green momentum and a positive crossover above the baseline.

From a broader lens, the 1-week Fibonacci chart highlights the 0.382 retracement at $2,745 as a major barrier, coinciding with the recent swing highs from March. ETH has retraced from this zone once, and reclaiming it would be a significant milestone for bulls aiming for a move toward $3,000.

Meanwhile, the Ichimoku Cloud on the 4-hour view supports bullish bias. Price is clearly above the cloud, and the Tenkan and Kijun lines have crossed positively, with Chikou Span free from resistance.

Why Ethereum Price Going up Today?

The answer lies in the successful invalidation of the previous downtrend structure around $1,900, which saw Ethereum break through with explosive volume, driven in part by market-wide recovery and renewed investor interest in altcoins.

Ethereum price is also benefiting from strong technical setups and clear trend breakouts.

As for Ethereum price spikes, the vertical move from May 9–11 added over $700 to ETH’s valuation, marking one of the strongest rallies in recent months. Since then, Ethereum price volatility has subsided into a consolidation range, which could precede another strong leg upward if bulls defend support zones effectively.

May 17 Ethereum outlook: Pullback or Breakout?

Heading into May 17, ETH’s trajectory depends on whether bulls can clear $2,625 and hold above $2,510. A clean breakout would eye $2,705 and $2,731, while rejection and dip below $2,510 could extend weakness to $2,445 or even the 4-hour 20-EMA.

ETH traders should watch for breakout confirmation via volume expansion and RSI pushing into 70+ levels. For now, the trend remains bullish, but signs of slowing momentum warn of a possible brief retest lower before continuation.

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