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The Ethereum price dropped 4% in the past 24 hours to trade at $2,404 as of 4:00 a.m. EST, with trading volume skyrocketing 135% to $30.6 billion.
The fall in the ETH price comes as Arthur Hayes, a co-founder of the BitMEX exchange, says he has a positive outlook on Ethereum’s future even though many investors hate it and claim the project isn’t doing anything.
In support of ETH, Hayes notes that Ethereum has the most total value locked (TVL) and also has the most developers, giving it room for a comeback. Additionally, Ethereum is still the most secure proof-of-stake blockchain.
Arthur Hayes just dropped some alpha 🧠
🚀 Altseason won’t kick off until $BTC breaks $110K – and he’s eyeing $150K–$200K before it really gets spicy 🌶️
💥 He also sees $ETH outperforming $SOL in the next 18–24 months, thanks to stronger fundamentals and ecosystem depth 📈Are… pic.twitter.com/PyWEkDNm98
— Dionysus degen (@BacchusBTC) May 19, 2025
Ethereum Price Prediction
The ETH price, after hitting levels over $4,000 in December 2024, went on to retrace within a well-defined falling channel pattern.
However, after finding support around $1,450 in April, the Ethereum price formed a rounded bottom pattern, which indicates a bullish trend reversal, according to GeckoTerminal data.
ETH has, however, invalidated the bullish outlook of the rounded bottom pattern after facing rejection at the $2,700 level, and is now trending downwards.
As a result of the continued downtrend, the price of ETH is now trading below the 200-day Simple Moving Average, which is currently acting as the immediate resistance zone. However, ETH is still trading above the 50-day SMA, which is still somewhat bullish.
Meanwhile, the Relative Strength Index (RSI) seems to be on a correction from the 70-overbought zone, currently at 61, coinciding with the current trend.
However, the blue Moving Average Convergence Divergence (MACD) shows a bullish crossover, with the blue MACD line crossing above the orange signal line.
The green bars on the histogram are dropping, which suggests the positive momentum could be cooling off. This might cause the price of ETH to correct in the short term.
ETH Price Could Retrace Back To The $1,900 Level
According to the ETH/USDT chart analysis on the daily timeframe, the Ethereum price could be on the verge of a bearish trend continuation. If the bearish trend picks up momentum, the next support zone could be around $1,900, acting as a cushion against downward pressure.
That level could offer ETH a base to eventually push the price back to the $2,700 resistance, which could help in pushing the asset to the $3,500 level in the long term.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called BTC Bull Token (BTCBULL), which will give token holders free BTC through airdrops.
99Bitcoins, a prominent crypto YouTube channel with over 723k subscribers, says BTCBULL is poised for massive gains.
BTC Bull Token Presale Closing On $6 Million
BTC Bull Token sets a new standard by becoming the first crypto project to reward holders with actual Bitcoin.
Designed to thrive during Bitcoin’s explosive runs, BTCBULL aligns with BTC’s rise and turns that momentum into amplified gains for investors.
The token is currently in presale and has already secured $5.96 million in funding.
Buying BTCBULL opens access to BTC airdrops at certain Bitcoin price milestones, starting at $150K, then at every $50K increment until BTC hits $1 million.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
The excitement around BTCBULL doesn’t stop there. To enhance scarcity and mimic Bitcoin’s limited supply, the project will conduct periodic token burns, beginning when Bitcoin hits $125K for the first time and continuing every $25K increase thereafter.
That mechanism reduces BTCBULL’s supply, potentially creating powerful upward price momentum for the meme coin.
Investors can purchase tokens now for $0.00252 via BNB, ETH, USDT, or bank card. Tokens can also be staked for an impressive 69% annual yield.
With bullish expert endorsements and strong investor interest, BTCBULL’s launch looks set to ignite the crypto community.
Interested investors will want to buy before the next presale price increase in about 2 days to lock in the best deal.
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