Source: Cointelegraph.com NewsKey points:<\/p>\n
Ether price rose 3% to $2,550 on May 18, triggering $22 million in short ETH liquidations.
\nA bull flag on the chart suggests a $3,700 target, with analysts predicting Bitcoin\u2019s price to go as high as $5,000 in May.<\/p>\n
Ether\u2019s (ETH) price was up on May 18, rising more than 2.5% over the last 24 hours to trade at $2,536. This recovery reinforces the optimism among traders that ETH price could hit $3,000 in May, citing strong technicals.
\nEther wipes out $7.5 million shorts in an hour
\nData from Cointelegraph Markets Pro and Bitsamp shows that ETH rose by more than 4.5% to an intraday high of $2,551 on May 18 from a low of $2,440 the previous day.
\nETH\/USD daily chart. Source: Cointelegraph\/TradingViewAccompanying Ether\u2019s losses today are significant liquidations across the crypto market. According to data from CoinGlass, more than $158 million leveraged crypto positions have been liquidated over the last 24 hours, with $95 million representing long liquidations.
\nShort Ether liquidations amounted to $22.25 million, with the $7.5 million being wiped out in the last hour alone.
\nTotal liquidations across the crypto market. Source: CoinGlassThis means that short traders were caught off guard by Ether\u2019s return to $2,500.
\nAdditional CoinGlass data showed several bands of seller interest above the spot price, with ask orders worth over $384 million building up all the way up to $3,000. This suggested that the ongoing recovery might be capped at this level.
\nETH liquidation heatmap. Source: CoinGlassIs Ether\u2019s recovery back?
\nMarket analysts believe Ether\u2019s recent drop was a technical correction to retest key support levels before continuing its uptrend toward $3,000 and beyond.\u00a0
\nTitan of Crypto said that the weekly Stochastic RSI\u2019s value at 79 suggests that ETH \u201cstill has more gas in the tank\u201d to move higher.<\/p>\n
#Ethereum might still have more gas in the tank \u26fd\ufe0fThe weekly Stochastic RSI suggests there’s still room before reaching extreme overbought territory, possibly a few more weeks to go. #ETH pic.twitter.com\/atCm93napO\u2014 Titan of Crypto (@Washigorira) May 17, 2025<\/p>\n
Ether\u2019s downside may be capped at $2,400, according to pseudonymous analyst Chimp of the North.\u00a0 Source: Cointelegraph.com NewsKey points: Ether price rose 3% to $2,550 on May 18, triggering $22 million in short ETH liquidations. A bull flag on the chart suggests a $3,700 target,… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129487"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129487"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129487\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129487"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe analyst shared a chart suggesting that the altcoin could continue its retracement to retest $2,400 support before launching another rally toward the $3,000-$3,300 range.
\nETH\/USD chart. Source: Chimp of the NorthFellow analyst Crypto Patel projected a deeper retracement for Ether, saying that ETH price could potentially drop $1,800 before launching a move higher.
\n\u201cThis area is a high-probability zone for bullish re-entry if price shows support,\u201d the analyst wrote as part of a May 17 post of X, adding:
\n\u201cIf demand holds here, the next leg up toward $4,000\u2013$5,000 could follow.\u201d
\nETH\/USD daily chart. Source: Crypto PatelAs Cointelegraph reported, ETH could hit new all-time highs around $5,000, fueled by AI adoption, spot ETF inflows, and the latest improvements through the Pectra upgrade.
\nRelated: Price predictions 5\/16: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
\nEther price bull flag is still in play
\nFrom a technical perspective, ETH price is still trading above a bull flag pattern in the four-hour timeframe, a bullish setup that forms after the price consolidates inside a down-sloping range following a sharp price rise.
\nThe bull flag was confirmed on May 13 when the price broke above the upper trendline at $2,550. Ether is now retesting the upper boundary of the flag, currently at $2,470, which is acting as immediate support.\u00a0
\nA daily candlestick close above this level could see the asset resume its uptrend toward the technical target of the bull flag at $3,720, up 50% from the current price.
\nETH\/USD four-hour chart. Source: Cointelegraph\/TradingViewConversely, the RSI has dropped from 60 to 42 over the last 24 hours, suggesting that the ongoing correction may continue if profit-taking intensifies.
\nA daily candlestick close below the support level at $2,470 will increase the chances of a price drop to $2,400 and then to the flag\u2019s lower boundary at $2,300.\u00a0
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"