Ethereum Just Surged 7% — Is This the Start of a Massive Breakout?

Jakarta, Pintu News – After experiencing a 51% increase between May 8 and 13, the current price of Ethereum remains stable and moves in a consolidation range between $2,400 to $2,600.

Both technical indicators and data from the blockchain suggest that the $2,460 level, or roughly $2,500, is the main resistance point that ETH must break in order to continue its rise towards the psychological $3,000 level.

However, the recent downturn in the crypto market has caused the ETH price to fall below this key level. As of May 18, Ethereum was trading at $2,392 and showing signs of weakness.

On the other hand, other altcoins have shown gains, recovering from the decline that occurred on Sunday night and the early trading session in Asia on Monday, May 19.

Then, how will Ethereum price move today?

Ethereum Price Up 7.02% in 24 Hours

Source: Pintu Market

As of May 20, 2025, Ethereum (ETH) was trading at approximately $2,566, or around IDR 42,429,382 — marking a 7.02% increase over the past 24 hours. Within that time frame, ETH dipped to a low of IDR 38,872,768 and climbed to a daily high of IDR 42,429,382.

At the time of writing, data from CoinMarketCap shows that Ethereum’s market capitalization stands at around $309.72 billion, with daily trading volume falling 4% to $25.79 billion in the last 24 hours.

Key Ethereum (ETH) Price Levels to Watch Out For

Data from IntoTheBlock shows that most “out-of-the-money” investors bought ETH within the price range of $2,357 to $2,556.

In this range, around 7.4 million wallet addresses bought nearly 70 million ETH at an average price of $2,462. This group of investors collectively holds Ether assets worth about $17.22 billion.

If just 25% of those holders start to panic and decide to sell their ETH at the breakeven price of around $2,462, this could create selling pressure of $4.3 billion. Pressure of this magnitude could potentially trigger a significant drop in Ethereum’s price.

In addition to these price zones, there are still several other groups of investors who are currently underwater, and they could also put additional pressure on ETH’s price movements.

However, given that the price of Bitcoin is approaching an all-time record high , and altcoins are expected to rise again to 2025 highs or even touch previous highs, it is likely that these investors will not rush to sell at breakeven prices.

Here are some important breakeven levels for ETH above $2,462:

$2,700 – 10.77 million address bought 10.56 million ETH and is still in a losing position.
$3,100 – 13.13 million addresses holding 5.78 million ETH which is also in a losing position.
$3,402 – 4.19 million ETH owned by 12.38 million addresses.
$3,967 – 4.11 million ETH owned by 14.9 million addresses.

These levels can be important points that determine whether the price of ETH will continue to rise or be held back by profit-taking from investors who previously lost money.

Technical Analysis of Ethereum (ETH)

From a technical analysis point of view, Ethereum (ETH) holders are now starting to take profit after a significant price surge in the past two weeks. This sharp rise attracted the attention of short-term investors to exit the market, which added to the selling pressure on the upside.

As a result, ETH is currently in a consolidation phase. A sharp price correction is still possible as the market is already in an overbought state, as indicated by the RSI indicator.

The key buy zone is at the weekly breaker area between $1,872 to $2,069, where a significant surge in demand is expected.

Therefore, the expectation of a higher low around $2,000 is an attractive opportunity to open long positions.

ethereum technical analysis today — Source: TradingView via Coingape

If the ETH price drops to the $2,000 range, then the first psychological resistance zone on recovery will be in the $2,400 to $2,700 range. This zone also includes most of the ETH that is currently underwater, as described earlier.

In conclusion, Ethereum’s price prediction remains bullish, but investors should be prepared for a possible correction and the formation of a higher low around $2,000.

A buy-the-dip strategy at this level has the potential to push ETH prices back to the $2,400 – $2,700 range, which is a crucial level and needs to be broken for ETH to return to $3,000.

From a blockchain data perspective, the GIOM indicator shows that the main hurdle to overcome is at $2,462, where about $17.22 billion ETH is still in the red.

While breaking the $2,462 level could pave the way for ETH to return to the $3,000 level, there are still a number of barriers that could prevent ETH from reaching its 2024 peak price of $4,000 or higher.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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