Ethereum (ETH) price surged on May 18th, sending a strong rebound signal to the market. It rose more than 2.5% in 24 hours, trading at $2,536, with an intraday high of $2,551. It successfully rebounded from the previous day's low of $2,440 in a short period. This recovery is aligned with the 'Bull Flag' pattern in technical analysis, and based on this, some analysts predict that ETH could break through the $3,000 level this month.
The rise caused significant damage to short positions. According to Cointelegraph Markets Pro and Bitsamp data, approximately $7.5 million worth of ETH short positions were liquidated in just one hour on May 18th. Cumulatively, over $22 million was settled in a day. This is interpreted as an indicator of a full-scale market sentiment shift.
Some traders are setting ETH's medium-term target at $3,700 based on charts, and simultaneously predicting Bitcoin (BTC) could rebound to around $5,000 this month. These predictions are driven primarily by clear technical recovery and expanded institutional investor buying, rather than short-term positive factors.
Experts analyzed that additional increases require breaking through short-term resistance lines and being supported by improvements in on-chain indicators. The market is currently focusing on macro environmental variables such as Trump's policy direction and interest rate outlook to gauge future asset price movements.
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