ETH Flatlines After May Surge: Is a Major Move Imminent?

ETH Flatlines After May Surge: Is the Momentum Fading or Building for a Breakout?

ETH has been unable to break higher following a robust surge earlier in May and is still consolidating below a crucial resistance level at $2,800. The bulls have held higher lows in the short term, but buyer conviction at these highs is called into question when the same level is repeatedly rejected.

ETH Eyes $3,400 Zone, But First Must Break Through $2,800 Barrier

At the moment, Ethereum is stabilizing below the 200-day moving average and the main resistance level of $2,800. Weakening positive momentum is seen in the RSI’s small decline below 70 and the pause in the uptrend that started at $1,500.

The price is still above the 100-day MA and the previous breakout zone, which is about $2,200, despite this, suggesting that the structure is still positive unless those levels are broken. The route to the $3,400–$3,600 supply zone would become accessible with a clear breakthrough over $2,800. However, if this isn’t done, the $2,200 demand barrier might be retested.

Ethereum Forms Ascending Triangle: Breakout or Breakdown Ahead?

The ETH price has clearly formed an ascending triangle between the $2,800 resistance and the $2,500 support, according to the 4H chart. After two robust accumulation zones below $1,850 earlier this month, the structure seems like it could be in a distribution phase.

Additionally, the RSI is circling 47, indicating a shift in momentum that is neutral. A confirmed breakout over $2,800 would refute the distribution theory and support upward expansion, while a break below $2,500 and the pattern’s bottom border would indicate a bearish reversal toward $2,100.

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