Ethereum price today is trading near $1,898 after a sharp breakout from the $1,830 resistance zone. This move comes after multiple failed breakout attempts earlier in May, with today’s bullish engulfing pattern on lower timeframes sending ETH above a key confluence of resistance. As Ethereum price action tests the upper Bollinger Band, traders are watching to see whether this rally can extend or fade into consolidation.
What’s Happening with Ethereum Price?
On the 30-minute and 4-hour charts, Ethereum price shows a decisive bullish breakout above $1,830–$1,845, levels that capped price for much of early May. After grinding sideways in a narrowing triangle, ETH surged more than 3% in a matter of hours, reaching intraday highs above $1,915 before a slight pullback to the $1,890s.
This rally follows a series of higher lows and trendline retests, culminating in a clean break above descending resistance. Price is now consolidating above prior resistance-turned-support near $1,880, which aligns with the midpoint of the breakout candle.
The move has invalidated prior bearish structures on both the 4-hour and 30-minute charts and places ETH within reach of testing the next macro resistance zone near $1,950.
Why Ethereum Price Going Up Today?
Several indicators support the breakout. On the 30-minute chart, RSI has reached 74.50, showing overbought conditions, but this level is typical during early-stage breakouts. As long as RSI consolidates near this zone without a sharp divergence, the uptrend remains valid.
Meanwhile, the MACD continues to print wide bullish bars, with the signal line accelerating upward—a classic short-term momentum continuation signal.
Ethereum price volatility is expanding rapidly, as the Bollinger Bands have widened following the breakout. Price is currently near the upper band at $1,915, indicating potential for either a pause or minor retracement before continuation.
On the weekly timeframe, ETH remains in a broader uptrend rebound from its March lows. Price is now approaching the 0.236 Fibonacci level at $2,074.93, which could act as a medium-term magnet if $1,950 is breached.
Ethereum Price Forecast for May 9: $1,880 Retest or Push Toward $1,950?
The immediate Ethereum price update shows bullish control, with short-term momentum and volume backing the breakout. The key levels to watch for May 9 are $1,880 (support) and $1,915 (resistance). A clean close above $1,915 would open the door to $1,950 and potentially $2,000 later this week, provided momentum holds.
However, failure to hold $1,880 on a retest would suggest the move is overextended, potentially dragging ETH back toward $1,845 and the trendline near $1,820.
Overall, the bias remains bullish unless $1,820 breaks decisively, which would flip the short-term structure back toward neutral. Until then, Ethereum price spikes and expanding volatility signal active breakout conditions.
Ethereum (ETH) Forecast Table – May 9 Outlook
| Indicator | Level / Signal | Bias |
| Current Price | $1,898 | Bullish |
| Immediate Resistance | $1,915 / $1,950 | Breakout Zones |
| Support Levels | $1,880 / $1,845 / $1,820 | Retest Zones |
| RSI (30-min) | 74.50 | Overbought but Healthy |
| MACD (30-min) | Strong Bullish Crossover | Momentum Confirmed |
| Bollinger Bands | Upper Band: $1,915 | Breakout Extension |
| Weekly Fib Resistance | $2,075 / $2,508 | Medium-Term Targets |
| Short-Term Outlook | Bullish | Retest or Rally |
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