Crypto Circle Li Ying: Ethereum Current Price at 2296 on 5.8 — After a sharp rise and pullback, what’s next in this volatile market? Latest market insights and trading guide

Article release date: 2026.5.8 — 00:30

Before publication, Ethereum’s current price is 2296. Its recent trend shows a clear pattern of rising sharply and then pulling back. After reaching a high of 2422, market buying strength failed to sustain, and the price gradually retraced. From the moving average system, short-term moving averages show signs of turning downward, exerting some pressure on the price, but medium- and long-term moving averages still provide certain support. The MACD indicator shows market momentum is weak, with the bears holding a slight advantage, but the indicator is gradually leveling off, suggesting selling pressure is easing.

Therefore, Li Ying predicts that Ethereum may continue to stay in a sideways pattern in the short term. Investors should pay attention to the breakout direction of the 2250–2340 range. A breakout upward can be seen as a short-term bullish signal; a break downward may indicate a continued downtrend. Caution is advised in trading, manage your positions carefully, and leave the rest to time.

Short-term reference:

- Buy at 2340 and hold firm; exit if below 2285; target above 2400, aiming for 2420
- Sell if below 2250 and exit if above 2290; target below 2200, aiming for 2150

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The article content is real-time and for reference only; trade at your own risk.