Ethereum: Bulls focused on flipping $1845 to support

held its ground and reclaimed the $27k mark after a massive options expiry on 26 May and an ongoing US debt ceiling. Will May end on a bullish note?Since 9 May, ETH traded in a range, oscillating between $1761 and $1856. When zoomed out, the price action has been on a downtrend after crossing $2100 in mid-April. A trendline resistance has been a key roadblock to bulls and had confluence with a key price ceiling in March of $1825.

Although bulls cleared the confluence hurdle, ETH was yet to inflict a bullish breakout from its sideways structure at the time of writing. A session close above the range high could set the ETH rally to $1,935 or the recent lower high at $1997. However, ETH could continue its sideways structure if BTC doesn’t surge to $28k. Price could oscillate between range extremes in such a scenario.

Meanwhile, the RSI crossed above the neutral mark, reiterating the recent buying pressure. The CMF also increased higher above the zero mark after wavering in the past few days, highlighting improved capital inflows.

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