Ethereum Reclaims $2,500 After 35% Surge, Faces $2,535 Resistance

Ethereum (ETH) is currently trading around $2,504, showing a mild intraday recovery after a corrective wave from the recent high of $2,660 on May 13. Despite this recent surge, the asset faces significant resistance as it consolidates below a descending trendline. The broader Ethereum price action remains bullish as long as it holds key support levels near $2,450.

After breaking out from the $1,950 zone, Ethereum's price soared over 35% in less than a week, testing the $2,660–$2,700 supply region. However, this level triggered a short-term rejection, and ETH has since corrected back into the $2,470–$2,500 range. On the 4-hour chart, ETH is attempting to rebound from the lower Bollinger Band near $2,456 and the EMA 50 level at $2,456, both of which are acting as near-term supports.

On lower timeframes, ETH has formed a falling wedge pattern between $2,470 and $2,580, often seen as a bullish continuation setup. The 30-minute chart shows a strong reclaim of the mid-range, supported by the RSI climbing toward 60 and the MACD histogram flipping green. A breakout above $2,535 could trigger short-term Ethereum price spikes toward the $2,600 handle once again.

The 1-day chart shows ETH retesting former resistance near $2,420–$2,445, now flipped into a support cluster, confirming this as a pivotal zone. Moreover, the price is still well above the downtrend breakout line from April and holding above EMA 20 and EMA 50 on higher timeframes.

Meanwhile, the 4-hour Ichimoku Cloud shows ETH still trading within the cloud range, with Tenkan-Sen and Kijun-Sen flattening, indicating a possible momentum reaccumulation. A close above $2,535 would put the price above the cloud and confirm a renewed bullish bias.

The reason for Ethereum's price increase today lies in the technical structure and support resilience. Despite recent selling near the $2,660 barrier, buyers have defended the $2,470–$2,490 demand zone repeatedly. This area is aligned with the lower Bollinger Band and the 100 EMA, providing solid footing for a short-term bounce.

On the 30-minute chart, the RSI has flipped bullish and crossed 59, suggesting renewed buyer interest. MACD lines are crossing to the upside, and histogram bars are turning positive — both classic indicators of bullish continuation. This recovery has occurred alongside a broader sentiment rebound in altcoins, with Bitcoin also holding above $103K.

Looking ahead, Ethereum price volatility is expected to remain high as ETH hovers between major resistance at $2,535–$2,560 and layered support between $2,470 and $2,440. A decisive breakout above $2,560 opens the door toward $2,635 and then the May high at $2,660. However, failure to hold above $2,470 may expose ETH to a deeper retest of $2,424 and the $2,300–$2,350 range, where previous consolidations occurred. Still, the overall structure remains bullish as long as ETH stays above $2,300.

The Ethereum price update reflects a critical consolidation phase with bullish undercurrents. Traders should closely watch the $2,535–$2,560 resistance area, as a breakout here could resume the May uptrend.