Ethereum Price Prediction for May 7: Will the Bulls Protect the $1,800 Support Level?

Ethereum (ETH) continues to trade in a narrowing range around the $1,800 level, after a series of lower highs since the peak in April near $1,910. Recent ETHEREUM price action shows hesitation between buyers and sellers, as the price fluctuates within a symmetrical triangle pattern. With volatility compressing and indicators flashing neutral levels, ETH is approaching a decision point ahead of May 7. Ethereum Price Today: Checking Triangle Peak Near $1,805

The 4-hour chart shows that ETH is testing the confluence of the 200 EMA line and horizontal support at $1,785–$1,800. This area also intersects with the lower boundary of the symmetrical triangle, formed after Ethereum recovered from a low of around $1,570 in mid-April. The price is currently trading near $1,806.94, facing resistance from the upper triangle boundary at $1,845–$1,850. This range has thwarted many bullish attempts over the past two weeks. A clear breakout above this area could pave the way to $1,910 and potentially $1,950, where significant supply resides from the distribution in early April. Ethereum Price Volatility Is Decreasing: Indicators Show Speculation

The recent consolidation of Ethereum is reflected in the narrowing volatility bands and converging oscillators. The Keltner channel on the 4H timeframe is tightening between $1,768 and $1,867. Price action remains closely anchored to the middle line, indicating a balance of momentum. The RSI is 45.88 with the stochastic RSI fluctuating below 50. Both indicators reflect a neutral stance, with no extreme oversold or overbought conditions. Meanwhile, the MACD remains below the zero line but is moving sideways, indicating that selling pressure has decreased, but no bullish crossover has appeared to trigger confidence. Ethereum Price Update: Support Clusters at $1,775–$1,785 Hold the Key

The EMA cluster (20/50/100/200) on the 4H chart is currently converging between $1,779 and $1,818, creating a dense support-resistance band. Any decisive move through this area is likely to determine the next leg of ETH's movement. A break below $1.775 could lead to a retest of the $1.720–$1.740 range, followed by deeper support near $1.680 if the downward momentum accelerates. On the other hand, if the bulls hold the triangle base and reclaim $1.846, the upward momentum could quickly shift in favor of the buyers. Why Did the Price of Ethereum Decrease/Increase Today?

The price of Ethereum today largely reacts to the structural compression between trend lines and the EMA. The lack of directional movement and flat momentum indicators suggest that traders are waiting for confirmation. Without significant volume, ETH may continue to coil within this triangle pattern. The eventual breakout—up or down—will set the tone for Ethereum's trajectory in May. Ethereum Price Prediction (ETH) May 7 With a symmetrical triangle structure and the EMA cluster acting as a pivot zone, ETHEREUM may still remain within the limited range unless there is a breakout. A daily close above $1,850 could initiate a rapid bullish surge to $1,910. However, a rejection risks sliding down to $1,775 and possibly $1,740 in the near future. The next 24 hours could bring a surge in volatility as Ethereum approaches the peak of the triangle. Ethereum Price Forecast Table (ETH) – May 7, 2025