Key Insights:
- April closed with a hammer candle, hinting at a 60% rally ahead.
- BTC’s strength and Fed uncertainty weigh on Ethereum’s momentum.
- If $1,800 holds, ETH could push toward $2,500–$3,000 in May.
Ethereum price dropped 1.7% in the last 24 hours to trade at $1,815 after touching an intra-day high of $1,846. One analyst has pointed out that ETH price is looking super bullish, and he expects up to 60% more gains in May. However, with the market being a wild roller coaster lately, what’s next for ETH?
Ethereum Price Faces Mixed Market Sentiment
The crypto market has been a battlefield this week, and Ethereum hasn’t been spared the drama. The market sentiment is a mixed bag as institutional adoption of Bitcoin has been sucking the oxygen out of the room, with BTC hitting $100,000 multiple times this year while ETH struggles to keep up.
This has led to a “Risk-Off” vibe in the market, partly because of the massive meme coin run on Solana (SOL), which drained liquidity like a vampire from the rest of the market. But what’s good for Bitcoin is usually good for the whole market, so there’s hope ETH might catch a wave soon.
The macroenvironment is also a big player. The Federal Reserve’s previous decision to hold rates steady at 4.25–4.50% has kept markets cautious.
Polymarket predictions market data shows that 97.6% of users bet $12.9 Million that there will be no change in interest rates in May.
Regardless of this overwhelming prediction, if the Fed goes dovish, we might see the price of ETH push back toward the $2.1K mark sooner than expected. Some analysts have warned of a possible “big massive market shit” if Fed Chair Powell turns hawkish at the upcoming meeting.
Analyst Predicts 60% Ethereum Price Jump in May
Crypto analyst Crypto Fella shared a chart on X that follows the Ethereum price action from 2016 to 2025, and it’s a thing of beauty.
The most recent candle—a hammer—closed around $1,830.9, with a high of $1,873.2 and a low of $1,792.7. For those unfamiliar, hammer candles are a Chad signal in technical analysis, often marking a reversal after a downtrend.
According to Crypto Fella, the last time ETH closed a hammer like this, it pumped 60%, and Crypto Fella is betting on history repeating itself.
Looking at the chart, ETH peaked around $4,800 in late 2021 before a brutal bear market brought it down. The 2023–2024 period showed some recovery, but 2025 has been a grind, with ETH dipping to $1,792.7 recently.
That hammer candle at $1,830.9 is sitting right above a key support zone around $1,800, which has held strong in the past. If this level holds, we could see ETH make a run for the $2,085 resistance (the 161.8% Fib extension level as highlighted below). A break above $2,085 could open the door to $2,500 or even $3,000 if the bulls go full send.
But here’s the tea: ETH’s price against Bitcoin has been bleeding, dropping to 0.01766—its lowest since January 2020. This shows BTC’s dominance is still a major headwind for ETH. If BTC keeps flexing at $100,000, ETH might need a serious catalyst to catch up.
On the flip side, the 50-day simple moving average (SMA) is showing signs of turning to the upside, signaling a bullish trend in the short and long term.
Where’s ETH Headed?
ETH is at a crossroads and if the Fed holds rates and BTC keeps soaring, the king of alts could ride the wave to $2,500–$3,000 in the coming months, especially with that bullish hammer candle.
What’s more is ETH bulls are hyped and analysts are also optimistic, predicting ETH could surge 60% in May and hit $3,000.
But the bears aren’t sleeping. If $1,750 support fails, ETH price may decline further to $1,668 or lower. Additionally, if Powell plays hardball or BTC dominance keeps crashing altcoins, we might see a dip to $1,750 or even $1,500, as some analysts predict
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
