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.

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.

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.

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.

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.

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.

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.