The price of Ethereum (ETH) has shown resilience, trading at $2,371 as analysts watch key support zones between $2,100 and $2,200. Increased trading volume and mixed liquidation data point to heightened market activity as the asset approaches resistance levels, with technical indicators suggesting potential movement toward $2,500.
Ethereum’s price held steady on May 5, 2026, as bullish traders attempted to extend a recent uptrend. The asset was trading at $2,371 with a 24-hour gain of 0.45% and a weekly gain of 3.68%. Trading volume increased by 17.18% to $20.86 billion, indicating stronger market activity.
Analyst Crypto Candy highlighted that ETH found support in the $2,100–$2,200 demand zone and is now attempting to move higher. The next target is near $2,500, with a further move potentially extending toward $2,600–$2,700 if the price remains above the demand zone.
Another analyst, CryptoGuru, pointed to weaker clarity in Ethereum’s microstructure compared to Bitcoin, creating short-term uncertainty. The larger trend remains potentially positive if buyers continue to defend key support levels between $2,256 and $2,325.
From a technical perspective, ETH is trading above major short-term moving averages, with the 20-day Exponential Moving Average (EMA) at $2,305 and the 50-day EMA at $2,259.9. Bollinger Bands indicate moderate volatility, with the upper band at $2,407.5 and the price moving within the upper range, suggesting momentum but not a breakout.
Derivatives data from CoinGlass show futures volume increased 21.62% to $52.53 billion, while open interest rose 0.24% to $33.56 billion. The open interest-weighted funding rate was -0.0036%, reflecting cautious sentiment. Total liquidations over 24 hours reached $74.38 million, with long liquidations at $33.64 million and short liquidations at $40.73 million, indicating pressure on both sides of the market.
