Is Ethereum Headed to $2K? The Great Crypto Rollercoaster 🎢💸

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Is Ethereum Headed to $2K? The Great Crypto Rollercoaster 🎢💸

So, ETH has been hanging out below $2,800, like a teenager refusing to leave the party. After a wild May rally—which was basically ETH’s way of saying “Look at me, I’m totally still relevant”—it now struggles to push higher, stuck in a sort of indecisive limbo. Bulls are throwing high lows around like Confetti, but every time they get near $2,800, a brutal rejection reminds everyone that maybe, just maybe, Ethereum isn’t quite ready to be the life of the party.

Technical Analysis

The Daily Chart

Ethereum is chilling below its big resistance at $2,800, which also coincides with the 200-day moving average—fancy talk for “Your mom’s favorite line of support.” From $1,500, ETH went on a little run, but now it’s taking a breather, and the RSI (that’s the Relative Strength Index for those who love jargon) has dipped below 70, signaling that the bullish mojo might be running out of gas. Nonetheless, ETH is still hanging above the 100-day MA and that cozy $2,200 breakout zone. A decisive leap above $2,800 would send it rocketing to $3,400 or $3,600—just in time for Ethereum’s version of a fireworks show. But if ETH falters, expect a retread back to the $2,200 demand zone, as if it’s playing hard to get.ETH 4H Chart

The 4-Hour Chart

On the shorter timeframe, ETH has formed a nice little ascending triangle—like a bullish handshake—between $2,800 and $2,500. It’s giving off major “I’m about to do something big” vibes, but the repeated rejections at the top are starting to feel like a poorly timed punchline. The RSI hovers near 47, whispering “Neutral, maybe a little fatigued.” Break below $2,500 and ETH could slide back to $2,100, like a sad puppy looking for its lost ball. But if it manages a breakout above $2,800—big if, mind you—it would toss that distribution theory out the window and say, “Hey, up we go!”ETH Daily Chart

Sentiment Analysis

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2025-05-31 08:31