Ethereum Dips 3% After 41% May Gain, Key Support at $2,500

Ethereum (ETH) is currently trading around $2,530, slightly above a long-term ascending trendline that has provided consistent support since early May. This level, combined with horizontal support near $2,535, is critical for the short-term market structure. The 50-period Simple Moving Average (SMA) on the 2-hour chart sits above the current price at $2,629, indicating that ETH has recently dipped below its short-term moving average, a sign of weakening momentum. However, the price is still holding key structural support.

The Relative Strength Index (RSI) is near 38, approaching oversold territory. Historically, such levels have preceded bounces, especially when combined with trendline support. Despite the recent pullback, Ethereum had a massive 41% gain in May, marking one of its strongest monthly performances in 2025. The challenge now is whether bulls can sustain the uptrend into June after the sharp May breakout.

Ethereum is at a decision point. If the current trendline holds and RSI continues to bounce from oversold, we could see a retest of $2,600–$2,630. However, a breakdown below $2,500 could open the door to a deeper retracement toward $2,200. Traders should watch for a bullish RSI reversal above 40, reclaiming the 50-SMA on the 2H chart, and increased volume near the ascending support trendline.

Ethereum’s May rally has cooled, but the broader uptrend remains valid as long as $2,500–$2,530 holds. If bulls defend this zone and RSI starts reversing, ETH could gear up for a fresh run in June. But if this level breaks, prepare for a potential retest of $2,200 or lower. Stay updated with the ETH chart and real-time price, and monitor key trendlines closely in the coming days.