Ethereum Price Prediction for May 12: Can ETH Sustain Momentum After 40% Weekly Rally?
After an explosive rally that saw Ethereum price surge from the $1,800 breakout level to a 2025 high near $2,604, ETH is now showing signs of intraday exhaustion. The recent bullish momentum was fueled by a clean break above long-standing descending trendlines on both the 1D and 4H charts, along with a high-volume breakout from a symmetrical triangle formation seen on May 8.
On May 11, Ethereum price today retraced slightly to the $2,470–$2,480 zone, which aligns with the upper boundary of its prior consolidation range. This could now act as a short-term support if bulls remain in control. The Bollinger Bands on the 4H chart show price retreating after riding the upper band for two days, a sign of cooling Ethereum price action.
Ethereum Price Spikes, But Momentum Indicators Show Caution
The 30-minute chart reveals divergence in momentum. The Relative Strength Index (RSI) dropped to 39.4 from overbought levels near 80, suggesting a weakening buying force. Meanwhile, the MACD has turned bearish with a negative crossover, reinforcing the potential for a short-term cooldo…
The post Ethereum Price Prediction for May 12: Can ETH Sustain Momentum After 40% Weekly Rally? appeared first on Coin Edition.
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Ethereum Price Prediction for May 12: Can ETH Sustain Momentum After 40% Weekly Rally?
After an explosive rally that saw Ethereum price surge from the $1,800 breakout level to a 2025 high near $2,604, ETH is now showing signs of intraday exhaustion. The recent bullish momentum was fueled by a clean break above long-standing descending trendlines on both the 1D and 4H charts, along with a high-volume breakout from a symmetrical triangle formation seen on May 8.
On May 11, Ethereum price today retraced slightly to the $2,470–$2,480 zone, which aligns with the upper boundary of its prior consolidation range. This could now act as a short-term support if bulls remain in control. The Bollinger Bands on the 4H chart show price retreating after riding the upper band for two days, a sign of cooling Ethereum price action.
Ethereum Price Spikes, But Momentum Indicators Show Caution
The 30-minute chart reveals divergence in momentum. The Relative Strength Index (RSI) dropped to 39.4 from overbought levels near 80, suggesting a weakening buying force. Meanwhile, the MACD has turned bearish with a negative crossover, reinforcing the potential for a short-term cooldo…
The post Ethereum Price Prediction for May 12: Can ETH Sustain Momentum After 40% Weekly Rally? appeared first on Coin Edition.
Read More