Market analysts believe Ether’s recent drop was a technical correction to retest key support levels before continuing its uptrend toward $3,000 and beyond. Titan of Crypto said that the weekly Stochastic RSI’s value at 79 suggests that ETH “still has more gas in the tank” to move higher.#Ethereum might still have more gas in the tank ⛽️The weekly Stochastic RSI suggests there's still room before reaching extreme overbought territory, possibly a few more weeks to go.#ETH pic.twitter.com/atCm93napO— Titan of Crypto (@Washigorira) May 17, 2025Ether’s downside may be capped at $2,400, according to pseudonymous analyst Chimp of the North. The analyst shared a chart suggesting that the altcoin could continue its retracement to retest $2,400 support before launching another rally toward the $3,000-$3,300 range.ETH/USD chart.
Source: Chimp of the NorthFellow analyst Crypto Patel projected a deeper retracement for Ether, saying that ETH price could potentially drop $1,800 before launching a move higher.“This area is a high-probability zone for bullish re-entry if price shows support,” the analyst wrote as part of a May 17 post of X, adding:“If demand holds here, the next leg up toward $4,000–$5,000 could follow.”ETH/USD daily chart.
Ether is now retesting the upper boundary of the flag, currently at $2,470, which is acting as immediate support. A daily candlestick close above this level could see the asset resume its uptrend toward the technical target of the bull flag at $3,720, up 50% from the current price.ETH/USD four-hour chart.
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Author / Journalist: Cointelegraph by Nancy Lubale
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