• Written by: (ZebPay | Buy Bitcoin & Crypto
• Tue, 20 May 2025
•   Singapore

Ethereum dropped 4.3% on the day, sliding from $2,500 to $2,400 after a strong monthly performance. The sudden downturn led to $264.40 million in liquidations, with long positions accounting for $205.28 million, according to CoinGlass. This correction comes after a bullish month for the broader crypto market, buoyed by easing trade tensions including trade […]The post Ethereum Technical Analysis Report – 20th May 2025 appeared first on ZebPay.

Ethereum Technical Analysis Report 20th May 2025

Ethereum dropped 4.3% on the day, sliding from $2,500 to $2,400 after a strong monthly performance. The sudden downturn led to $264.40 million in liquidations, with long positions accounting for $205.28 million, according to CoinGlass. This correction comes after a bullish month for the broader crypto market, buoyed by easing trade tensions including trade deals between the U.S. and the U.K., and more recently, with China. Amid these developments, Ethereum co-founder Vitalik Buterin introduced a new proposal emphasizing the need to simplify node operations, warning that overreliance on third-party access points could erode decentralization and user privacy.

At the time of writing, ETH was trading at $2,566.

ETH, after taking support at the key level of $1,350, started moving upward and was consolidating in a range between $1,775 and $1,875. The asset eventually gave a breakout above this range and witnessed a massive rally. Prices surged by almost 97% from the recent lows of $1,385 to $2,738. Following this move, ETH experienced some profit booking, causing the price to drop by nearly 15%. The asset currently faces strong resistance at $2,850. If it breaks and closes above this level with good volumes, we can expect prices to rally further to $3,000 and $3,350.

Key Levels:

Unravel everything that you need for your crypto journey via ZebPay blogs. Get started today and join 6 million+ registered users on ZebPay!

The post Ethereum Technical Analysis Report 20th May 2025 appeared first on ZebPay.