Ethereum continues to underperform while movement remains uncertain

Ethereum price analysis for May 25, 2022, ends on a sluggish note for ETH with low chances of breaking $2k in the near future.
Ethereum price analysis for May 25, 2022, ends on a sluggish note for ETH with low chances of breaking $2k in the near future.

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Ethereum price analysis for May 25, 2022, comes on a bearish note for May 25, 2022, as the world’s 2nd biggest cryptocurrency continues to progress below the $2K price region. It seems that the chances of higher prices soon are not very high as the buying volume for the token remains quite low. On the other hand, as noted in our ETH price analysis for May 24, 2022, the nearest resistance for the token lies at the $2K price level while the support is at the $1900 price region. 

The data from CoinMarketCap shows that the trading volume of the coin dropped by 6.63% in the last 24 hours, followed by a 0.25% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.05902, while the Market Dominance rose to 18.83%. 

The daily candle for Ethereum opened at a price of $1979 and reached a daily high of $2022. On the other hand, the daily low for ETH stands at a price of $1961. The price of 1 ETH at the time of writing is $1973. 

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Ethereum price analysis for May 25 on the daily chart

Ethereum price analysis for May 25, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.

Ethereum price analysis
Source: TradingView

The RSI indicator reads a value below 37 which means that the bears and the bulls continue to fight for dominance as the selling pressure remains high.

The MACD indicator shows that the MACD line remains above the signal line while the MACD histogram shows small green bars.

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The price action for Ethereum is situated in the lower zone of the Bands but a retest of the middle zone of the Bands can be expected soon as the transition to ETH 2.0 is nearing.

Conclusion

Ethereum price analysis for May 25, 2022, ends on a sluggish note for ETH with low chances of breaking $2k in the near future.

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