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Coin Edition 2025-05-08 06:45:54

Ethereum (ETH) Price Prediction for May 9: Can Bulls Sustain the Breakout?

Ethereum (ETH) Price Prediction for May 9: Can Bulls Sustain the Breakout?

Ethereum price today is trading near $1,898 after a sharp breakout from the $1,830 resistance zone. This move comes after multiple failed breakout attempts earlier in May, with today’s bullish engulfing pattern on lower timeframes sending ETH above a key confluence of resistance. As Ethereum price action tests the upper Bollinger Band, traders are watching to see whether this rally can extend or fade into consolidation. What’s Happening with Ethereum Price? ETH price dynamics (Source: TradingView) On the 30-minute and 4-hour charts, Ethereum price shows a decisive bullish breakout above $1,830–$1,845, levels that capped price for much of early May. After grinding sideways in a narrowing triangle, ETH surged more than 3% in a matter of hours, reaching intraday highs above $1,915 before a slight pullback to the $1,890s. This rally follows a series of higher lows and trendline retests, culminating in a clean break above descending resistance. Price is now consolidating above prior resistance-turned-support near $1,880, which aligns with the midpoint of the breakout candle. The move has invalidated prior bearish structures on both the 4-hour and 30-minute … The post Ethereum (ETH) Price Prediction for May 9: Can Bulls Sustain the Breakout? appeared first on Coin Edition .

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