- Ethereum price is eking out small gains near closing out this week.
- ETH needs to keep its price action above $1,930.
- If by Sunday night, ETH closes below $1,930, expect to see a selloff in May that could bring Ethereum price to $1,400.
Ethereum (ETH) price is at a crucial level as it could mean either more upside or downside to come for May. This is a very binary view or outlook; thus, it makes sense to look for where the Ethereum price is currently trading. A weekly close below $1,930 means that bulls have lost the power to push ETH towards $2,000 and instead could see bulls vacating the premises with Ethereum price tanking to $1,400.
Ethereum price on a very binary moment that could predict May’s end result
Ethereum price has traders scratching their heads on what to do next as price action is at a crossroads to go substantially higher or lower. The close by Sunday night will never have been so important to determine what May may bring for Ethereum. Should ETH close below $1,930, expect mayhem for May as bulls will start to escape.
ETH could tank near 25% for the month as bulls have lost their control over the price action as they were unable to reclaim ground above $1,930. More profit-taking would get underway, and first, see ETH try and find support near $1,690. Once that fails, a broad slide toward $1,404 looks inevitable.
ETH/USD weekly chart
Not all is lost when bulls can push price action up and book that weekly close above $1,928. From there, Ethereum price could start building a rally that would become quite substantial after breaking first the double top near $2,120. From there, ETH could jump 10% and head to $2,280, making it a 20% jump.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin celebrates annual Pizza Day with a new all-time high
Bitcoin (BTC) enthusiasts are celebrating Bitcoin Pizza Day with a banger. BTC made a new all-time high on Wednesday and has entered price discovery mode. The OG cryptocurrency is trading above $110,000 for the first time ever.
XRP Price Forecast: Open Interest skyrockets as Volatility Shares to launch XRP futures ETF on NASDAQ
Ripple's (XRP) price accelerates the uptrend to around $2.43 at the time of writing on Thursday, propelled by improving sentiment in the broader crypto market after Bitcoin (BTC) rapidly rallied to new all-time highs at approximately $111,880.
The Graph aims to enable secure cross-chain GRT transfers with Chainlink’s CCIP
The Graph (GRT) plans to adopt the Chainlink (LINK) interoperability standard (CCIP) to enable GRT transfers across three ecosystems. A successful deployment of GRT bridges across Arbitrum (ARB), Base (BASE), and Solana (SOL) will significantly expand its cross-chain functionality.
Top 3 Gainers Fartcoin, Dogwifhat, Popcat: Meme coins lead altcoins rally exploding alongside Bitcoin
Cryptocurrencies broadly extend gains on Thursday, propelled by Bitcoin’s (BTC) surge to new all-time highs at around $111,880. Meanwhile, altcoins continue to gain strength, with Bitcoin dominance (BTC.D) sliding to approximately 63.84%, buoyed by significant rallies in meme coins such as Fartcoin (FARTCOIN), Dogwifhat (WIF) and Popcat (POPCAT).
Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.