On May 18, Ether's price rose over 3% to approximately $2,550, leading to $22 million in short liquidations. The technical analysis indicates a potential target of $3,700 if the bull flag formation holds. The market also saw significant liquidations, totaling $158 million across leveraged crypto positions in 24 hours, with $7.5 million of short positions liquidated quickly. Analysts suggest the recent price drop might have been a technical correction, with potential support levels around $2,400. Should ETH recover and maintain above $2,470, a movement towards the $3,000-$3,300 range, or higher towards $4,000-$5,000, is projected, based on upcoming demand and market conditions. However, if profit-taking escalates, a dip below $2,470 could open pathways for further declines. Overall, the sentiment within the market remains optimistic for Ether's potential growth in the near future.

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