On May 18th, according to Cointelegraph, market analysts believe that Ethereum's recent decline is a technical correction aimed at retesting key support levels before continuing to rise to $3000 and above. Crypto analyst Titan of Crypto stated that the current value of the weekly stochastic relative strength index (Stochastic RSI) is 79, indicating that ETH "still has momentum to continue rising".
Analyst Chimp of the North stated that Ethereum's downside potential may be limited to $2400. And it stated that Ethereum may continue to experience a pullback, retesting the support level of $2400 before rising again, with a target range of $3000 to $3300.
