Ethereum Slumps Above $2,500 and May Drop Further

Ethereum (ETH) Current Statistics

The current price: $2,538.97
Market Capitalization: $306,489,195,356.82
Trading Volume: $29,025,338,460.18
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis May 24, 2025

Ethereum’s (ETH) price may drop further as it confronts rejection twice at the $2,700 barrier. If purchasers had maintained the bullish momentum above the $2,700 barrier, the largest altcoin might have risen to a peak of $3,000. The largest altcoin has dropped to $2,523 today. However, if the 21-day SMA support is broken, the selling pressure will continue below the $2,350 low or the 21-day SMA support.

Ether will trade in a range-bound manner above the 21-day SMA support and below the resistance at $2,700 if the current support holds. Ether will decline above the 50-day SMA or the $1,973 low if the 21-day SMA support is breached. Ether is now trading at $2,533.50.

ETH Technical Indicators Reading

The price bars are above the moving average lines after the recent fall.
It suggests that the altcoin’s upward trend above the moving average lines will resume. The 21-day SMA is above the 50-day SMA suggesting the bullish signals. On the 4-hour chart, Ether’s price bars are fluctuating between the horizontal moving average lines.

Conclusion  

Ethereum has declined above the moving average lines on the daily chart and may drop further. The altcoin has, however, dropped below the 4-hour chart’s moving average lines. The crypto asset has fallen to the $2,533 low while below the moving average lines.

A rejection at the moving average lines will compel the altcoin to plummet to the previous bottom above $2,300. The crypto signal will be bearish if it turns down from the lines of the moving average.

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