- Ethereum is trading around $1,898 after a strong breakout above the $1,830 resistance, supported by bullish technical indicators.
- Traders are watching if ETH can sustain above $1,915 or retrace toward $1,880.
Ethereum Price Surges Beyond Key Resistance
Ethereum (ETH) is currently trading around $1,898, following a decisive breakout above the critical $1,830 resistance zone. After several failed attempts earlier in May, Ethereum’s price has surged, supported by a bullish engulfing pattern on lower timeframes, propelling it past a confluence of resistance levels. Traders are now closely monitoring whether this upward momentum can sustain or if a pullback is on the horizon.
Why Ethereum Price is Rising
On the 30-minute and 4-hour charts, Ethereum’s price action reveals a strong bullish breakout above the $1,830–$1,845 range, which had previously acted as a strong resistance. After moving sideways in a narrowing triangle, ETH gained over 3% within hours, peaking above $1,915 before experiencing a slight pullback to the $1,890 level.
The surge in Ethereum’s price is underpinned by a series of higher lows and successful trendline retests. Moreover, the move has invalidated prior bearish structures on both the 4-hour and 30-minute charts, positioning ETH for a potential test of the next resistance zone around $1,950.
Key Technical Indicators Supporting the Rally
Technical indicators further confirm Ethereum’s bullish momentum. The RSI on the 30-minute chart has reached 74.50, signaling overbought conditions, but this is typical for early-stage breakouts. As long as the RSI remains elevated without significant divergence, the uptrend remains intact.
Additionally, the MACD is printing strong bullish bars, with the signal line accelerating upwards, indicating continued momentum. Bollinger Bands have also widened, highlighting increased volatility, with Ethereum’s price hovering near the upper band at $1,915.
Ethereum Price Outlook for May 9
Looking ahead, key levels for Ethereum are $1,880 (support) and $1,915 (resistance). A sustained close above $1,915 could open the door to $1,950, and potentially even $2,000 in the coming days, provided bullish momentum persists. Conversely, failure to maintain support at $1,880 could trigger a pullback toward $1,845 or even the trendline near $1,820.
Ethereum remains in a bullish setup as long as it stays above $1,820, with expanding volatility suggesting active trading conditions.
