Ethereum ($ETH) Price Prediction for May 29: Bulls Defend $2,600 Support Amid Volatility
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The Ethereum price today is trading near $2,630 after failing to sustain above short-term resistance at $2,700. Despite recent upside momentum, Ethereum price action is now showing signs of exhaustion, with multiple indicators flashing early warning signals of a pullback or consolidation phase.
What’s Happening With Ethereum’s Price?
After a clean breakout from the descending wedge formation earlier this month, the Ethereum price rallied sharply from the $2,420 support zone, briefly tagging the $2,698 region. This surge aligned with broader altcoin strength and Bitcoin’s own rally past $110K. However, the bulls are now facing difficulty maintaining momentum as ETH trades back below its immediate resistance line.
On the 4-hour chart, Ethereum has failed to hold above the upper Bollinger Band and is now retracing toward the midline around $2,580. The 20 and 50 EMA levels at $2,602 and $2,569 are key pivot zones to watch, with a sustained close below these levels likely opening downside risks toward the $2,500 psychological support.
RSI, MACD and Chande Momentum Flash…
The post Ethereum ($ETH) Price Prediction for May 29: Bulls Defend $2,600 Support Amid Volatility appeared first on Coin Edition.
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Ethereum ($ETH) Price Prediction for May 29: Bulls Defend $2,600 Support Amid Volatility
Share:
The Ethereum price today is trading near $2,630 after failing to sustain above short-term resistance at $2,700. Despite recent upside momentum, Ethereum price action is now showing signs of exhaustion, with multiple indicators flashing early warning signals of a pullback or consolidation phase.
What’s Happening With Ethereum’s Price?
After a clean breakout from the descending wedge formation earlier this month, the Ethereum price rallied sharply from the $2,420 support zone, briefly tagging the $2,698 region. This surge aligned with broader altcoin strength and Bitcoin’s own rally past $110K. However, the bulls are now facing difficulty maintaining momentum as ETH trades back below its immediate resistance line.
On the 4-hour chart, Ethereum has failed to hold above the upper Bollinger Band and is now retracing toward the midline around $2,580. The 20 and 50 EMA levels at $2,602 and $2,569 are key pivot zones to watch, with a sustained close below these levels likely opening downside risks toward the $2,500 psychological support.
RSI, MACD and Chande Momentum Flash…
The post Ethereum ($ETH) Price Prediction for May 29: Bulls Defend $2,600 Support Amid Volatility appeared first on Coin Edition.
In This News
Coins
Share:
In This News
Coins
Share:
Read More
Ethereum Price Prediction: ETF Outflows And Trendline Rejection Keep Sellers In Control