Key factors:
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Ether price rose 3% to $2,550 on Might 18, triggering $22 million in brief ETH liquidations.
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A bull flag on the chart suggests a $3,700 goal, with analysts predicting Bitcoin’s price to go as excessive as $5,000 in Might.
Ether’s (ETH) price was up on Might 18, rising more than 2.5% over the past 24 hours to commerce at $2,536. This restoration reinforces the optimism amongst merchants that ETH price may hit $3,000 in Might, citing sturdy technicals.
Ether wipes out $7.5 million shorts in an hour
Knowledge from Cointelegraph Markets Pro and Bitsamp exhibits that ETH rose by more than 4.5% to an intraday excessive of $2,551 on Might 18 from a low of $2,440 the day before today.
Accompanying Ether’s losses at this time are important liquidations throughout the crypto market. In accordance to information from CoinGlass, more than $158 million leveraged crypto positions have been liquidated over the past 24 hours, with $95 million representing lengthy liquidations.
Quick Ether liquidations amounted to $22.25 million, with the $7.5 million being worn out in the final hour alone.
Because of this brief merchants have been caught off guard by Ether’s return to $2,500.
Extra CoinGlass information confirmed a number of bands of vendor curiosity above the spot price, with ask orders price over $384 million build up all the best way up to $3,000. This steered that the continued restoration may be capped at this stage.
Is Ether’s restoration back?
Market analysts imagine Ether’s current drop was a technical correction to retest key help ranges earlier than continuing its uptrend toward $3,000 and past.
Titan of Crypto said that the weekly Stochastic RSI’s worth at 79 means that ETH “nonetheless has more fuel in the tank” to transfer greater.
#Ethereum may nonetheless have more fuel in the tank ⛽️
The weekly Stochastic RSI suggests there’s nonetheless room earlier than reaching excessive overbought territory, presumably just a few more weeks to go. #ETH pic.twitter.com/atCm93napO
— Titan of Crypto (@Washigorira) May 17, 2025
Ether’s draw back could also be capped at $2,400, in accordance to pseudonymous analyst Chimp of the North.
The analyst shared a chart suggesting that the altcoin may proceed its retracement to retest $2,400 help earlier than launching one other rally towards the $3,000-$3,300 vary.
Fellow analyst Crypto Patel projected a deeper retracement for Ether, saying that ETH price may probably drop $1,800 earlier than launching a transfer greater.
“This space is a high-probability zone for bullish re-entry if price exhibits help,” the analyst wrote as a part of a Might 17 submit of X, including:
“If demand holds right here, the subsequent leg up towards $4,000–$5,000 may comply with.”
As Cointelegraph reported, ETH may hit new all-time highs around $5,000, fueled by AI adoption, spot ETF inflows, and the newest enhancements by way of the Pectra upgrade.
Associated: Price predictions 5/16: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
Ether price bull flag continues to be in play
From a technical perspective, ETH price continues to be buying and selling above a bull flag sample in the four-hour timeframe, a bullish setup that kinds after the price consolidates inside a down-sloping vary following a pointy price rise.
The bull flag was confirmed on Might 13 when the price broke above the higher trendline at $2,550. Ether is now retesting the higher boundary of the flag, at present at $2,470, which is appearing as rapid help.
A each day candlestick shut above this stage may see the asset resume its uptrend towards the technical goal of the bull flag at $3,720, up 50% from the present price.
Conversely, the RSI has dropped from 60 to 42 over the past 24 hours, suggesting that the continued correction might proceed if profit-taking intensifies.
A each day candlestick shut beneath the help stage at $2,470 will improve the possibilities of a price drop to $2,400 after which to the flag’s decrease boundary at $2,300.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.
