ETH Struggles Against Resistance Level $2,555: Breakthrough or Collapse After Memorial Day?

Ethereum is at $2,477.12, falling 3.12% in the past 24 hours with a trading volume of $12.9 billion. As Memorial Day approaches this Monday, thin liquidity in the crypto market raises questions about potential price moves. Will the post-holiday price fall push ETH down to $2,300 or will it find support to maintain its current level? ETF Money Flow Shows New Optimism; Does Ethereum Have Support? May 23 is a significant day for cryptocurrency ETFs. The Bitcoin ETF saw an inflow of $211 million, while the Ethereum ETF saw $58.63 million. 22,000 ETH were purchased, indicating that institutional investors are still paying attention. Bitcoin ETF: $211.74 million in inflows, 1,900 BTC added. Ethereum ETF: $58.63 million invested, 22,000 ETH added. These trends indicate that ETH is becoming popular again. This new interest may be due to recent regulatory clarity, improvements in network upgrades, and macro factors. Technical Analysis of Ethereum: Caution at Key Levels On the 2-hour chart, ETH has broken through the trend line and is stuck below the 50-period EMA at $2,555, which is now the resistance level. With the breakthrough in the falling direction of the upward trend line around $2,500, the price prediction for Ethereum remains pessimistic. The candlestick chart at $2.523 is showing hesitation and the MACD chart is indicating a bearish momentum.

Key levels to pay attention to: Support: $2,378, $2,272, $2,172. Resistance levels: $2,555, $2,626. Indicators: MACD fall, EMA acting as resistance, broken trend line is a downtrend. For traders, patience is key. A confirmed break below $2.378 could mean a further fall to $2.300. Above $2.555 and we may see a rally back to $2.800. Will Day of Remembrance Liquidity Affect Ethereum Price Fall? With the potential for thin volume throughout the long weekend, ETH may witness larger movements. If the ETF cash flow continues and sentiment remains positive, we could see a breakout above the resistance level. But if the market hesitates, we may see ETH testing lower support levels early next week.