Ethereum (ETH) Price Prediction for May 21: Can Bulls Reclaim $2,600 After Pullback?

The Ethereum price today is trading around $2,542 after failing to break above the $2,588 intraday high. Despite last week’s sharp upside rally that sent ETH soaring above $2,500 for the first time in over a month, the recent Ethereum price action signals a near-term pause as bulls struggle with overhead resistance. The market has now entered a key zone between the $2,520–$2,600 range, where several technical indicators suggest a cooling of bullish momentum.

What’s Happening with Ethereum’s Price?

Looking at the 30-minute and 4-hour charts, ETH remains within a tight consolidation channel. On the 4H timeframe, price is testing the upper trendline of a descending wedge while staying above major support at $2,439.36. The lower boundary of this range coincides with the previous breakout zone, indicating that bulls may defend this area aggressively.

The Ethereum price update reflects muted volatility as Bollinger Bands begin to narrow, suggesting a potential breakout in either direction. Meanwhile, the 4-hour MACD is showing a weak crossover with fading bullish histograms…

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