Ethereum (ETH) Price Prediction for May 21

Ethereum Poised for Potential Breakout as Crypto Market Remains Bullish

The crypto market continues to show bullish momentum, according to the latest CoinStats analysis. Ethereum (ETH), the second-largest cryptocurrency, has risen 2.43% in the past 24 hours.

On the hourly chart, ETH's price is hovering closer to support than resistance, suggesting bulls may be gaining traction. However, if they fail to capitalize soon, a breakout could trigger a correction toward the $2,500 level.

From a broader perspective, Ethereum is trading within a wide channel between $2,317 (support) and $2,738 (resistance). With neither bulls nor bears in clear control, significant price swings appear unlikely in the short term.

Mid-term analysis shows ETH bouncing off the $2,608 resistance level again. A weekly close near this mark could set the stage for a potential rally toward the key $3,000 zone.

As of now, Ethereum trades at $2,571 as the market maintains cautious optimism.