Ethereum has dropped below $2,500, currently trading at $2,477.12 with a 3.12% daily decline. The holiday weekend has thinned liquidity, and Memorial Day’s reduced trading activity could invite larger-than-usual price swings. While ETF data shows bullish inflows — including $58.63M into Ethereum ETFs — ETH continues to test critical support levels.
From a technical standpoint, ETH has breached its trendline support and is unable to reclaim the 50-period EMA at $2,555, now serving as resistance. Price action around $2,523 reflects market indecision, while a widening MACD signals downward momentum. If Ethereum fails to hold above $2,378, a slide toward $2,300 seems likely. Conversely, reclaiming $2,555 would be the first sign of recovery, with upside potential toward $2,800.
Long weekends can skew trading behavior, and Ethereum’s price could react sharply to minor sentiment shifts. Despite positive ETF signals, caution remains warranted until ETH either breaks above resistance or confirms support at lower levels.
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