Key factors:
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Ether value rose 3% to $2,550 on Could 18, triggering $22 million briefly ETH liquidations.
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A bull flag on the chart suggests a $3,700 goal, with analysts predicting Bitcoin’s value to go as excessive as $5,000 in Could.
Ether’s (ETH) value was up on Could 18, rising greater than 2.5% during the last 24 hours to commerce at $2,536. This restoration reinforces the optimism amongst merchants that ETH value might hit $3,000 in Could, citing robust technicals.
Ether wipes out $7.5 million shorts in an hour
Knowledge from Cointelegraph Markets Professional and Bitsamp exhibits that ETH rose by greater than 4.5% to an intraday excessive of $2,551 on Could 18 from a low of $2,440 the day past.
Accompanying Ether’s losses immediately are important liquidations throughout the crypto market. In keeping with knowledge from CoinGlass, greater than $158 million leveraged crypto positions have been liquidated during the last 24 hours, with $95 million representing lengthy liquidations.
Brief Ether liquidations amounted to $22.25 million, with the $7.5 million being worn out within the final hour alone.
Which means that quick merchants have been caught off guard by Ether’s return to $2,500.
Extra CoinGlass knowledge confirmed a number of bands of vendor curiosity above the spot value, with ask orders value over $384 million increase all the best way as much as $3,000. This prompt that the continued restoration is perhaps capped at this degree.
Is Ether’s restoration again?
Market analysts consider Ether’s latest drop was a technical correction to retest key help ranges earlier than persevering with its uptrend towards $3,000 and past.
Titan of Crypto mentioned that the weekly Stochastic RSI’s worth at 79 means that ETH “nonetheless has extra fuel within the tank” to maneuver larger.
#Ethereum may nonetheless have extra fuel within the tank ⛽️
The weekly Stochastic RSI suggests there’s nonetheless room earlier than reaching excessive overbought territory, probably just a few extra weeks to go. #ETH pic.twitter.com/atCm93napO
– Titan of Crypto (@WASHIGORIRA) Could 17, 2025
Ether’s draw back could also be capped at $2,400, in response to pseudonymous analyst Chimp of the North.
The analyst shared a chart suggesting that the altcoin might proceed its retracement to retest $2,400 help earlier than launching one other rally towards the $3,000-$3,300 vary.
Fellow analyst Crypto Patel projected a deeper retracement for Ether, saying that ETH value might probably drop $1,800 earlier than launching a transfer larger.
“This space is a high-probability zone for bullish re-entry if value exhibits help,” the analyst wrote as a part of a Could 17 publish of X, including:
“If demand holds right here, the subsequent leg up towards $4,000–$5,000 might comply with.”
As Cointelegraph reported, ETH might hit new all-time highs round $5,000, fueled by AI adoption, spot ETF inflows, and the most recent enhancements by way of the Pectra improve.
Associated: Worth predictions 5/16: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
Ether value bull flag remains to be in play
From a technical perspective, ETH value remains to be buying and selling above a bull flag sample within the four-hour timeframe, a bullish setup that kinds after the worth consolidates inside a down-sloping vary following a pointy value rise.
The bull flag was confirmed on Could 13 when the worth broke above the higher trendline at $2,550. Ether is now retesting the higher boundary of the flag, at the moment at $2,470, which is performing as fast help.
A day by day candlestick shut above this degree might see the asset resume its uptrend towards the technical goal of the bull flag at $3,720, up 50% from the present value.
Conversely, the RSI has dropped from 60 to 42 during the last 24 hours, suggesting that the continued correction might proceed if profit-taking intensifies.
A day by day candlestick shut beneath the help degree at $2,470 will improve the possibilities of a value drop to $2,400 after which to the flag’s decrease boundary at $2,300.
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails threat, and readers ought to conduct their very own analysis when making a call.
