On May 17, Ethereum (ETH) fell to 2,400 USD but quickly rebounded. By May 18, ETH increased by 2.5% to approximately 2,550 USD, driven by the liquidation of short positions totaling 22 million USD.
Market analysts suggest a bullish formation might lead ETH to 3,700 USD, with strong indicators pointing to potential growth towards 3,000 USD or above in May.
The market saw significant liquidations, with over 158 million USD wiped out from crypto positions. Analysts anticipate ETH’s downside could be limited to 2,400 USD, while predictions of all-time highs nearing 5,000 USD are also circulating.
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