5.15 Monday Afternoon ETH Outlook

In the afternoon, Ethereum follows Bitcoin to initiate a weak correction trend. Benefiting from the easing of Middle Eastern geopolitical conflicts, market risk appetite has slightly improved. The coin price gradually rebounded from the intraday low of $1,650, currently trading within a narrow range around $1,720. Overall trading volume has significantly shrunk, indicating a passive rebound after a sharp decline, with no signs of active capital inflow to push the price higher.
From a technical perspective, $1,670 is the short-term support and resistance level in the afternoon. Holding this level, the market will continue to test the resistance zone at $1,730–$1,750. Only by breaking above $1,750 can there be hope of opening a rebound space toward $1,800; if it falls below the intraday low of $1,650 again, it will retest the key support at $1,600. This level is the last defensive bottom line at this stage. If it is broken, the downward space will further expand.
The medium- to long-term bearish structure remains unchanged. Ethereum spot ETF funds continue to flow out, and on-chain ecosystem activity has decreased, suppressing the rebound height. The afternoon trend is likely to remain in a range-bound consolidation, not suitable for chasing gains. It is more prudent to wait for a key price breakthrough confirmation before planning a more stable layout.
Trading suggestion: Watch for a rebound around $1,730, with a target of $1,680. If broken, $BTC look for $1,620.