- Ethereum rally strengthens with $2,600 acting as key support for bullish momentum.
- Overbought RSI near 80 hints at possible pullback or short-term price consolidation.
- Break above $2,715 could trigger a swift surge toward the $2,800 resistance zone.
Ethereum has seen an impressive price movement, rising over 7% in the last 24 hours and reaching $2,643.91. This upward push comes after a strong breakout from the previous $2,450–$2,500 range.
With buyers showing renewed confidence and volume surging, investors are now questioning whether ETH can sustain this momentum or if a short-term correction is looming. The rally is backed by strong technical indicators, but overbought conditions signals suggest caution.
Momentum and Market Sentiment Strengthen the Uptrend
The bullish sentiment surrounding Ethereum has been clearly reflected in the trading volume, which jumped nearly 19% to $35.88 billion. This surge in activity points to increasing interest and investor enthusiasm. ETH touched an intraday high near $2,715 before slightly retracing, showing signs of healthy profit-taking.
Moreover, Ethereum is finding solid support on the downside. The $2,600 level recently acted as a rebound point during a minor pullback. Additionally, the $2,520–$2,550 zone held firm earlier and now serves as a significant cushion for any potential dip. A broader support base lies around $2,450, a key psychological and technical threshold that may limit deeper corrections.
On the upside, Ethereum faces resistance near $2,675–$2,700. This range has seen several price stalls in recent sessions. The $2,715 level, which marks the recent peak, now acts as immediate resistance. If ETH manages a clean breakout above this mark, the next leg up could be swift and decisive.
Indicators Hint at Overbought Conditions
Despite the current strength, technical indicators are flashing signals that may suggest a pause. The Relative Strength Index (RSI) is at 79.68, which firmly places Ethereum in the overbought territory. Typically, RSI values above 70 indicate that a short-term pullback or consolidation is likely.
The MACD indicator also reinforces bullish momentum. The MACD line remains well above the signal line, reflecting strong buying pressure. However, the wide gap between the two lines suggests that price may be temporarily overextended.
Outlook for May 15 and Beyond
Ethereum’s near-term trend remains bullish. However, the overbought conditions and stiff resistance levels may prompt some sideways action. If prices manage to stay above $2,600, bulls remain in control. A push past $2,715 would open the door for further gains, possibly toward $2,800.
