The post Ethereum Price Holds $2,500 as Polymarket Bets Surge 72% appeared on BitcoinEthereumNews.com.

Ethereum prediction market shows 72% odds of staying above $2,500 by May 16 Despite a 2.86% drop, Ethereum maintains critical support around the $2,500 mark RSI signals overbought conditions while MACD momentum begins to show early weakness Ethereum’s market sentiment has shifted notably as the prediction market on Polymarket now shows a 72% chance that the cryptocurrency will remain above $2,500 on May 16, 2025.  This jump represents a 22% surge in trader confidence, sparked by rising optimism and increased trading activity over recent days. The change in sentiment reflects a broader trend where traders are recalibrating their outlook based on both technical indicators and market psychology. Polymarket Prediction Sees High Volume, Investor Conviction Besides the rise in probability, the market has drawn significant attention. Trading volume for this particular prediction reached $674,720, showing strong participation and conviction among speculators.  Interestingly, this surge in confidence came despite Ethereum’s short-term dip, suggesting that investors may be focusing on longer-term fundamentals rather than daily fluctuations. Related: ETH Outlook Brightens: Hedge Funds Shift to Favor Ethereum ETH Price Action and Key Technical Levels to Watch At the time of writing, Ethereum is trading at $2,554.71, marking a 2.86% daily decline. This drop follows a sharp reversal from recent highs near $2,650. The chart pattern shows a series of lower highs and lower lows, which generally points to a bearish short-term trend. However, the bigger picture may tell a different story. Support and resistance levels are becoming more defined. Immediate resistance stands at $2,595, a level that has rejected price advances several times recently. Further resistance lies at $2,625, which was the local high before the current pullback. If bulls manage to push the price above this zone, it could mark the beginning of a short-term rally. On the downside, key support is at…

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Filed under: News - @ May 15, 2025 9:23 pm