Ethereum returns to $3K in May? Latest rebound says ETH PRISE “still have more gas”

Key points:

• On May 18, Ether prices rose 3% to $2,550, triggering a short liquidation of $22 million.

• The bull sign on the chart indicates the target is the $3,700 target, and analysts predict that the price of Bitcoin will be as high as $5,000 in May.

Ether’s (ETH) price rose on May 18, up more than 2.5% in the past 24 hours, trading at $2,536. This recovery strengthens trader optimism that ETH prices were based on strong technology in May.

Ether wiped off $7.5 million shorts in one hour

Data from Cointelegraph Markets Pro and Bitsamp show that ETH rose more than 4.5% on May 18 to an intraday high, from its previous day’s low of $2,440.

Today, the loss of ether is a massive liquidation of the entire cryptocurrency market. More than $158 million of leveraged cryptocurrency positions have been liquidated in the past 24 hours, with $95 million representing a long liquidation, according to Coinglass.

The price of the short ether liquidation is $22.25 million, and the $7.5 million will be deleted in the last hour alone.

This means that Ether’s return rate is to $2,500, and short traders are caught off guard.

Other data from the same level show that several sellers have more interest than spot prices, requiring orders worth more than $384 million, totaling $3,000. This indicates that ongoing recovery may be capped at this level.

Is the recovery of ether back?

Market analysts believe Ether’s recent decline is a technical correction to the re-correction of the re-support level, and then continues toward the uptrend of $3,000 and beyond.

Titan of the cryptocurrency said the weekly random RSI value is 79, indicating that ETH “still has more gas in the tank” to make it higher.

#Ethereum There may be more gasoline in the tank⛽️

Weekly random RSIs suggest that there is room and maybe a few weeks left before reaching extreme territory. #eth pic.twitter.com/atcm93napo

– Encrypted Titans (@washigorira) May 17, 2025

According to North’s pseudonym analyst Chimp, the disadvantages of ether may be limited to $2,400.

The analyst shared a chart that shows that Altcoin can continue its retracement to regain support of $2,400 before launching another rally to the $3,000-$3,300 range.

Analyst Crypto Patel predicted a deeper backtrack for Ether, saying ETH prices could potentially drop $1,800 before increasing the action.

“If the price shows support, if the price shows support, then the area is a bullish reentry high probability area.”

“If demand is held here, the next distance is $4,000 to $5,000.”

As Cointelegraph reports, ETH may hit a new all-time high of $5,000 driven by AI adoption, on-site ETF inflows, and the latest improvements through Pectra upgrades.

Related: Price Forecast 5/16: BTC, ETH, XRP, BNB, SOL, DOGE, DOGE, ADA, SUI, LINK, AVAX

Ether price bull flag is still working

From a technical point of view, ETH prices are still outperforming the Bull Flag model trading over the four-hour timeframe, a bullish setting that consolidates within the decline after a sharp rise in prices.

The Bull Flag was confirmed on May 13, when the price exceeded the upper trend line at $2,550. Ether is now retesting the flag cap, currently at $2,470, which is immediately supported.

A daily candlestick above this level could restore the asset to its upward trend towards the Bull Flag’s technical target at $3,720, up 50% from its current price.

Instead, the RSI has dropped from 60 to 42 over the past 24 hours, indicating that continued corrections may continue if profits are strengthened.

Daily candlesticks at $2,470 below the support level will increase the chances of a price drop to $2,400 and then raise to the lower boundary of the flag at $2,300.

This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.