Ethereum is trading around $2,250–$2,300 after sliding below key short-term levels. The price dropped below $2,300 and the 100-hourly Simple Moving Average, with a recent low formed at $2,256.
ETH has been moving sideways for weeks. Buyers have struggled to push price above $2,375, and sellers have rejected each attempt at the upper range.
Analyst Na₿er shared a 4-hour chart showing ETH consolidating inside a tight range above support near $2,130–$2,180. He noted that volume spikes suggest buyers may be accumulating positions while price stays range-bound.
Analyst Sky shared a daily wedge chart showing ETH holding higher lows above key moving averages. He pointed to $2,460 as the breakout level, with the next major target zone between $2,961 and $3,161 — lining up with the 0.786 and 0.886 Fibonacci levels.
$ETH is about to move FAST towards $3000+.
It is coiling up in a tight wedge above key moving averages. And once it breaks, it's likely moving to the next volume shelf. $BMNR is heading to $32+ next.
This could be quick, don't miss out! pic.twitter.com/fNr5i1w5eb— Sky (@TheSkayeth) May 12, 2026
Analyst Daan Crypto Trades posted on X that $ETH “keeps being capped by that ~$2.4K level,” adding it has traded against this area for close to two months. He said a break above would likely push ETH quickly toward the Daily 200MA/EMA near $2,600, while $2,100 remains the key high-timeframe support level for bulls to defend.
$ETH Keeps being capped by that ~$2.4K level. It has now traded against this area for the better part of the past 2 months.
If ETH can break above that resistance, it should quickly trade to the Daily 200MA/EMA around $2.6K.
On the downside, that ~$2.1K area if the key high… pic.twitter.com/bQF7S96Re2
— Daan Crypto Trades (@DaanCrypto) May 12, 2026
Immediate resistance sits at $2,300, then $2,320 and $2,335. A move above $2,375 could open a run toward $2,420–$2,440. On the downside, $2,250 is the first major floor, followed by $2,200 and $2,120.
Without a confirmed close above $2,375, ETH may continue ranging inside its current zone.
JPMorgan filed with the SEC on Tuesday to launch the JPMorgan OnChain Liquidity-Token Money Market Fund, ticker JLTXX. The fund will operate on the Ethereum blockchain through the bank’s Kinexys Digital Assets division.
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JPMorgan is launching a second tokenized money market fund on Ethereum, designed to satisfy stablecoin reserve requirements under the GENIUS Act. pic.twitter.com/fvnP8I0ovw
— CoinMarketCap (@CoinMarketCap) May 13, 2026
JLTXX will invest primarily in short-term US Treasury securities with maturities of 93 days or less, plus overnight repurchase agreements backed by Treasuries or cash.
The fund introduces Token Class Shares, linking blockchain token balances one-to-one with shares on the fund’s official Investor Register. It uses a permissioned Ethereum overlay with smart contracts, AML compliance controls, and allow-listed addresses.
JPMorgan stated the fund is structured to meet Rule 2a-7 requirements and may qualify as a compliant reserve asset under the GENIUS Act for stablecoin issuers. Ethereum is the only supported blockchain at launch, though the filing allows for expansion to other chains later.
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