Ethereum (ETH) Price Prediction for May 16
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After a ferocious breakout from the $2,000 range, the Ethereum price is currently trading at $2,585, pulling back modestly after facing resistance around $2,710. On the 4-hour chart, ETH is consolidating inside a downward-sloping channel as bulls protect the $2,560-$2,570 zone, which coincides with the 20-EMA and the Bollinger midline. This area acts as dynamic support for now.
On higher timeframes, the breakout above $2,400 triggered a vertical rally, pushing prices above the 0.5 Fibonacci retracement at $2,745 (from the $4,100–$1,385 range). While Ethereum price today has slightly cooled, the upside structure remains intact unless ETH drops below $2,500, which could open room for a deeper pullback toward the $2,385 and $2,186 levels (EMA 50/100).
Notably, the RSI on the 30-min chart is neutral at 45.5, while MACD continues to flash a weak bearish crossover, suggesting momentum is fading but not reversing.
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The post Ethereum (ETH) Price Prediction for May 16 appeared first on Coin Edition.
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