Ethereum Faces Key Support After Weak Weekly Performance
- Price Movement Analysis: Ethereum is trading at $2,304 on May 13, 2026, down 3% for the week after opening at $2,370.5 and reaching a high of $2,425, followed by a consistent sell-off to a low of $2,250, indicating weak market sentiment and lack of buying support.
- Significant CPI Impact: The April CPI year-over-year increase of 3.8%, exceeding the expected 3.7%, led to a 2.2% drop in ETH on the CPI release day, underperforming Bitcoin's 1.2% decline, reflecting Ethereum's heightened sensitivity to market risk sentiment.
- Critical Technical Support: The key support level for Ethereum is currently at $2,300; a weekly close below this level could lead to further declines towards $2,211, with a breach potentially triggering concerns about a drop to $2,100, indicating significant downside risk.
- Market Sentiment Shift: Retail investor sentiment has turned bearish, compounded by the Ethereum Foundation's recent unstaking of 21,271 ETH from Lido, increasing circulating supply and intensifying selling pressure, thereby reducing the likelihood of a short-term rebound.
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Technical Analysis for ETH
Technical Sentiment Analysis for Ethereum (ETH). As of , Ethereum (ETH) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 10 technical signals, shows that 4 indicators are flashing buy, while 6 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for ETH stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, ETH is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Ethereum (ETH) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 1986.794 | 2098.552 | 2200.224 | 2311.982 | 2413.654 | 2525.412 | 2627.084 |
| Fibonacci | 2098.552 | 2180.082 | 2230.452 | 2311.982 | 2393.512 | 2443.882 | 2525.412 |
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