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Top Altcoins for May 2026

Ethereum ETH USD Maintaining the $2,200 Defense Within the Channel

Ethereum ETH USD is currently trading around $2,265. A sharp correction came from the all-time high (ATH) of $4,956 in August 2025. On the weekly chart, a bottom of $1,748 formed on February 2nd, followed by a reclaim of the $2,200 support.

Upwards, the main resistance is now at $2,701. Further up, the $3,400–$3,600 band is a major selling pressure zone. If it falls below $2,200, the long-term rising support line from the cycle bottoms extends near the $1,600 level.

The weekly RSI is moving back into neutral territory. The BBWP is printing blue bars indicating low volatility. Both indicators suggest a new directional move is approaching, like a spring being drawn.

The daily chart shows an ascending parallel channel since February 2nd. The price is currently at $2,264, within the 0.382 Fibonacci retracement level. Channel support is at $2,200.

In the short term, the most critical resistance is $2,400. This level coincides with the pivot zone where selling pressure was previously high. A break below the 0.618 Fibonacci support at $2,140 would weaken the bullish scenario and increase the risk of a return to $2,000.

Daily volume has decreased. BBWP is printing below-normal candlesticks. The RSI is just above the downtrend, below 50. Volatility continues to be consolidated.

The structural catalyst here is the Fusaka upgrade, which became active on December 3, 2025. Fusaka increased the blob capacity per block from 6 to 48 and raised the gas cap to 150 million.

Since then, Layer 2 fees have virtually collapsed, which has revived DeFi transaction volume. In the medium term, the Glamsterdam hard fork, planned for mid-2026, also provides additional support for bullish expectations.
‍$ETH