Ethereum price surged 3% to reclaim $2,550, driven by renewed investor interest following Bitcoin’s breakout and Saudi-linked institutional activity.
Ethereum (ETH) Reclaims $2,550 as Bitcoin Buzz Lifts Crypto Markets
Ethereum (ETH) surged 3% on Sunday, May 18, reclaiming the $2,550 level after briefly dipping to $2,462 over the weekend. The rebound reflects renewed bullish sentiment across crypto markets, led by Bitcoin’s sharp
p move above $105,700. Alongside ETH, other major altcoins including Ripple (XRP) and Solana also bounced off local lows as trading activity picked up following a relatively quiet Friday session.
According to Coingecko data, Ethereum saw its 24-hour trading volume increase from $12.5 billion to $15 billion, marking a clear uptick in investor participation.
The breakout above $2,551, supported by this volume surge, confirms the presence of a strong bullish catalyst driving short-term capital inflows into Ethereum and related assets.
Why Is Ethereum Price Going Up Today?
Recent news reports involving the Saudi government’s indirect adoption of BTC reserves, aligned with Strategy CEO Michael Saylor’s announcement of further BTC purchases, have emerged as dominant bullish catalysts driving Ethereum prices over the past 24 hours.
On May 16, the Saudi government confirmed that the Saudi Central Bank acquired 25,656 shares of Strategy (formerly MicroStrategy).
The purchase came amid a highly publicized diplomatic visit by U.S. President Donald Trump to the oil-rich nation. At current prices, the purchase is worth $10.2 million.
News that Saudi Arabia’s central bank purchased 25,656 shares of Strategy (formerly MicroStrategy), a company known for holding massive Bitcoin reserves, has been interpreted as an indirect crypto adoption move.
Furthermore, on Sunday, Strategy CEO Michael Saylor made a post on X hinting at an imminent BTC purchase. Both events appear to have sparked rapid buying pressure among altcoin holders.
This may have prompted ETH traders, who initially adopted a cautious stance on Friday, leading to a capitulation to $2,456, to regain control, as evidenced by Ethereum breaking the key $2,551 level alongside rising volumes.
This purchase, valued at $10.2 million, coincided with U.S. President Donald Trump’s diplomatic visit to the kingdom, lending it additional symbolic weight in global financial markets.
Further fueling the rally, Strategy CEO Michael Saylor hinted at new Bitcoin acquisitions via a post on X (formerly Twitter).
These dual developments appear to have renewed confidence among crypto investors. ETH, which had briefly capitulated on Friday, has now broken key resistance at $2,551, a level that previously capped upside momentum.
What Ethereum Traders Can Expect in the Week Ahead
Etheruem’s 3% price rebound on Sunday appears to be a direct result of capital rotation into altcoins, following bullish Bitcoin signals and institutional involvement with crypto-linked equities.
As long as trading volumes remain elevated and macro sentiment supports risk-on behavior, ETH price could build momentum toward the next resistance zone near $2,600–$2,650.
Ethereum Price Forecast Today: ETH Consolidates Near $2,500 With Bulls Eyeing $2,650 Breakout
Ethereum is stabilizing around the $2,495 mark following a sharp rally earlier in May that propelled prices from sub-$2,000 levels to highs near $2,600.
The bullish breakout, which began in early May, remains technically intact, supported by expanding Bollinger Bands and the continued presence of Parabolic SAR dots below recent candlesticks.
These indicators reflect sustained upward momentum and suggest the recent pullback may be temporary consolidation rather than a trend reversal.
In the latest, Ethereum price forecast chart above, the MACD histogram reveals a mild bearish divergence, with fading green bars and a slight dip in the MACD line approaching the signal line. However, the MACD remains well above the zero axis, reinforcing a broadly bullish market structure.
A successful hold above the $2,475–$2,495 zone, paired with increasing volume, could catalyze another leg higher toward the upper Bollinger Band near $2,894.
Conversely, a breakdown below $2,475 could open a path toward the mid-Bollinger Band support at $2,192.
Frequently Asked Questions (FAQs)
Ethereum is gaining on strong altcoin demand following Bitcoin’s breakout and bullish signals from Saudi investments in crypto-linked equities.
The next major resistance for Ethereum lies between $2,600 and $2,650, with strong technical support around $2,475–$2,495.
Ethereum reacts to macro factors like interest rate expectations and institutional adoption, often following Bitcoin’s lead during key market events.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
