Ethereum Eyes $3,000: Analysts Predict Pullback to $2,400 Before Rally

As reported by COINOTAG on May 18th, market analysts offer insights into Ethereum’s latest price movements. According to Cointelegraph, this **recent decline** is viewed as a strategic technical pullback aimed at reassessing critical support levels before potentially ascending towards **$3,000** and beyond. Cryptocurrency analyst Titan of Crypto highlighted that the **weekly Stochastic RSI** is positioned at 79, suggesting that ETH retains sufficient momentum to move **upward**. Furthermore, Analyst Chimp of the North posited that Ethereum’s downside may be constrained to **$2,400**. He indicated that the cryptocurrency could undergo a slight correction to retest this support level before aiming for a recovery in the range of **$3,000 to $3,300**. This **market analysis** underscores the resilience of Ethereum as it navigates these fluctuations in pursuit of higher valuations.