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, however 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. RSI on the 30-min chart is hovering near 54.8, reflecting a neutral stance, while Stoch RSI on lower timeframes has crossed below 50, hinting at waning short-term momentum.

Why Ethereum Price Going Down/Up Today?

The recent Ethereum price spikes came as a result of a clean breakout from a long-term descending trendline visible on the daily chart, where ETH surged nearly 20% from its base near $2,200. However, the current hesitation is primarily due to resistance near the 0.382 Fibonacci retracement level ($2,745) from the November 2024 high to the March 2025 low.

On the weekly chart, the Ethereum price remains bullish above the $2,450 pivot zone, but further upside is constrained unless bulls can decisively reclaim $2,600. Chande Momentum Oscillator shows a slight bearish divergence on the 30-minute timeframe, which could explain the stall.

Key Levels to Watch in the Ethereum Price Action

The 30-minute chart shows ETH caught between $2,520 support and $2,580 resistance. A break above this band could trigger a retest of $2,606—the trendline high from the descending wedge. Should bulls lose momentum, immediate support lies at $2,439, followed by $2,410 and deeper Fibonacci retracements near $2,220.

Interestingly, on the daily chart, ETH still trades within a broader ascending structure that began in early May. As long as Ethereum price today holds above $2,500, this formation remains intact.

Ethereum Price Forecast for May 21

From a short-term perspective, price is likely to remain volatile heading into May 21. The Ethereum price volatility has compressed on lower timeframes, hinting at a potential breakout.

• Bullish Scenario: If ETH can decisively break above $2,600 with increased volume, the next resistance zones to watch are $2,745 and then $2,860. This move would confirm continuation from the May breakout and potentially re-open the path toward the 0.618 Fibonacci level at $2,965.
• Bearish Scenario: A breakdown below $2,500 would invalidate the short-term bullish structure. In this case, support at $2,439 and $2,410 become critical, followed by deeper levels near $2,220 and $1,995.

With multiple indicators showing conflicting signals, traders should be prepared for heightened intraday volatility. Watch RSI behavior on 1H and 4H charts, MACD crossovers, and price reaction near $2,600 to assess breakout strength.

ETH Technical Forecast Table: May 21

Indicator / Zone	Level (USD)	Signal
Resistance 1	2,600	Breakout trigger zone
Resistance 2	2,745	Fib 0.382, key ceiling
Support 1	2,439	Short-term holding zone
Support 2	2,220	Base of prior breakout zone
4H RSI	54.82	Neutral-Bullish
30-min MACD	Fading Bullish	Weak momentum
Bollinger Band Width	Narrow	Volatility expansion ahead
Trend Bias (Short-Term)	Bullish Above $2,500	Conditional

The current Ethereum price update suggests a tug-of-war between profit-taking and continuation momentum. Until ETH decisively clears $2,600, price action may remain rangebound with intraday swings defining near-term opportunities.