Ethereum retests $2,100, but could ETH crash amid technical breakdown?

  • Ethereum is testing the $2,140 level after an intraweek low near $2,070.
  • A technical breakdown raises the risk of a sharp decline to $1,350, CryptoQuant notes.
  • Bullish catalysts could include regulatory clarity and continued institutional demand.

Ethereum (ETH) briefly traded back above the $2,100 level on Wednesday after gaining about 1% over the past 24 hours as Bitcoin reclaimed the $77,200 mark.

While the rebound offered some relief for bulls, the altcoin remains under pressure following a sharp weekly decline.

Technical indicators continue pointing to elevated downside risk, with some analysts warning that ETH could face a deeper correction toward the $1,350 level.

Ethereum price today

Market data during the US session on Wednesday showed Ethereum testing the $2,140 zone after rebounding from intraweek lows near $2,070.

The rebound followed several sessions of heavy selling, although ETH remains well below recent swing highs.

Ethereum is currently trading nearly 7% lower for the week and roughly 28% lower year to date.

The Relative Strength Index (RSI) is hovering near oversold territory, which may suggest conditions for a short-term relief bounce.

However, ETH continues trading below all major moving averages on the daily chart, signaling that bearish momentum remains dominant.

Could ETH fall to $1,350 after a bearish breakdown?

One of the primary concerns for bulls is Ethereum’s breakdown below the support trendline of a triangle pattern.

The latest sell-off confirmed the structural breakdown on the daily chart, raising concerns that price action could mirror a similar technical failure earlier this year.

At the time, Ethereum’s price declined sharply from the $2,800–$3,000 range, falling roughly 35% over several days in February. If similar market conditions develop again, analysts warn that selling pressure could intensify further.

Analysts at CryptoQuant highlighted the downside risk in a recent market note.

“If Ethereum fails to reclaim the broken triangle structure, selling pressure could accelerate further, and price may target the $1,350 support level,” CryptoQuant author and analyst Pelin Ay wrote.

Macro conditions and weakening market flows have also added pressure to Ethereum’s price outlook.

Ethereum Price Chart
Ethereum price could crash to $1,350. Chart by CryptoQuant

Ethereum’s recent weakness has tracked Bitcoin’s broader lack of momentum, with BTC slipping toward the $76,000 area in recent sessions.

Meanwhile, spot Ethereum ETFs have recorded seven consecutive days of net outflows.

Persistent outflows have increased concerns that the recent technical breakdown could develop into a more prolonged downtrend.

Contrasting views and potential support levels

Not all market participants remain bearish on Ethereum’s longer-term outlook.

Bitmine’s Tom Lee said the recent pullback could represent a “buy low” opportunity, particularly as Bitmine’s treasury holdings now exceed 4.37% of Ethereum’s circulating supply.

Some bullish investors continue pointing to longer-term catalysts, including stablecoin growth on Ethereum, increasing staking adoption, and expanding interest in tokenized real-world assets (RWA).

Market participants are also monitoring regulatory developments that could influence broader institutional adoption trends over time.

In the near term, traders will closely watch whether buyers can push ETH back above the $2,200–$2,400 resistance zone.

Failure to reclaim that range could expose the token to another decline below $2,000, with some analysts identifying $1,350 as a possible downside target.

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Coins.ph adds Bitcoin and Ethereum to Philippines QR payments

  • Coins.ph adds BTC and ETH payments to the Philippines QRPh system.
  • Users can spend crypto at 700,000 QRPh-enabled merchants.
  • Stablecoins remain key for remittances and daily crypto payments.

Coins.ph has expanded its QRPh crypto payment functionality to support Bitcoin and Ethereum transactions, broadening the use of digital assets within the Philippines’ national QR payment infrastructure.

The Manila-based crypto platform announced on May 19 that users can now pay merchants nationwide using Bitcoin (BTC) and Ethereum (ETH) through QRPh, the national QR code standard developed by the Bangko Sentral ng Pilipinas (BSP).

The expansion builds on Coins.ph’s earlier rollout of QRPh-compatible stablecoin payments, which introduced support for USDT earlier this year.

Under the system, crypto balances are automatically converted into Philippine pesos during checkout, allowing users to pay merchants directly without manually converting digital assets into local currency beforehand.

Coins.ph estimates that the integration enables crypto payments across approximately 700,000 QRPh-enabled merchants throughout the country.

Crypto payments expand within national QR infrastructure

The latest update broadens the range of cryptocurrencies supported within the Philippines’ existing QR payment ecosystem.

QRPh serves as the national QR code standard designed to enable interoperable digital payments between financial institutions and merchants across the country.

Earlier this year, Coins.ph became the first digital wallet provider in the Philippines to integrate direct crypto payments into the national QR infrastructure through stablecoin support.

The company said the earlier USDT rollout generated substantial transaction volume and demonstrated growing consumer demand for crypto-based payments integrated into everyday financial activity.

With the addition of Bitcoin and Ethereum, Coins.ph is now extending access to two of the world’s largest cryptocurrencies while maintaining the same checkout experience used for stablecoin payments.

The company said the process allows users to scan QRPh codes at merchants while the system automatically converts crypto into Philippine pesos in real time.

Stablecoins remain central to remittance use cases

Coins.ph said stablecoins continue to play a key role within the broader payment infrastructure, particularly given the Philippines’ position as one of the world’s largest remittance markets.

The country receives approximately $38 billion in annual remittance inflows, according to the company.

Stablecoins have increasingly become part of cross-border payment flows, allowing recipients to receive and hold digital dollar-denominated assets before converting or spending them locally.

Coins.ph said the QRPh integration enables users to move between fiat currency and digital assets within a single payment flow, removing additional conversion steps that are often required in crypto transactions.

The addition of Bitcoin and Ethereum broadens supported payment assets while preserving what the company described as a unified payment experience focused on practical daily use.

Coins.ph highlights broader crypto adoption growth

Coins.ph operates as a licensed Virtual Asset Service Provider and Electronic Money Issuer under BSP regulation.

The Philippines remains one of the fastest-growing crypto markets globally. According to estimates cited by the company, the country now has more than 15 million crypto users, representing roughly 13.4% of the population.

Wei Zhou, CEO of Coins.ph, said:

“The addition of new tokens to our QRPH crypto payments feature is a great achievement following the landmark introduction of USDT payments for the Philippine financial landscape. We aren’t just adding new tokens; we are redefining what a digital wallet can do. This is the future of finance in action and we’re making the world’s most popular cryptocurrencies a functional part of the Filipino daily life.”

Coins.ph said its broader platform combines digital assets, payments infrastructure, remittances, foreign exchange services, investments, and treasury products into a unified financial ecosystem designed to support both businesses and consumers.

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Real to partner with iExec on privacy-focused institutional RWA operations

  • Real signs partnership with iExec to develop private RWA blockchain infrastructure.
  • Companies explore encrypted asset issuance, lending, and compliant financial operations.
  • Confidential computing gains attention as the institutional tokenization market continues expanding.

Real has entered into a memorandum of understanding with iExec to explore privacy-focused infrastructure for tokenized assets.

The collaboration will evaluate how institutional RWA issuance, distribution, and on-chain financial activity can be conducted while preserving confidentiality and supporting compliance and audit requirements.

Real provides infrastructure for the full lifecycle of tokenized assets, including onboarding, verification, risk assessment, settlement, and asset management.

iExec contributes confidential computing capabilities through Trusted Execution Environments such as Intel TDX and its Nox Protocol, which enables encrypted data processing, confidential smart contract execution, selective disclosure, and verifiable computation.

As part of the collaboration, the companies will assess how the Nox Protocol can integrate with Real’s Layer 1 blockchain to support confidential tokenized assets, encrypted transaction flows, and private financial operations.

The collaboration will focus on confidential RWA issuance and distribution, including encrypted balances and private transaction flows, as well as financial activities such as subscriptions, redemptions, dividend payments, lending, and structured credit.

“Institutions need more than tokenization. They need infrastructure that protects sensitive financial data while still allowing compliance, oversight, and auditability,” said Ivo Grigorov, CEO, Real.

“Our Partnership with iExec is an important step toward exploring how confidential computing can support the next generation of real-world asset markets.”

The companies will also explore selective disclosure tools for regulators and auditors, while assessing how confidential assets can remain interoperable with custody solutions, settlement systems, and potential secondary markets.

The agreement establishes a framework for evaluating institutional use cases such as tokenized funds and private credit. Planned next steps include technical discussions, identifying pilot opportunities, and aligning infrastructure architecture.

As real-world asset tokenization expands, institutional participation increasingly requires protection for sensitive data such as investor allocations and transaction information.

Real and iExec said they will examine how confidential computing can enable private financial operations while preserving on-chain verification and controlled regulatory access.

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Jupiter (JUP) price forecast as TVL rises to $2.94B and Metis V8 launch

  • Jupiter price traded between $0.19 and $0.21, up 8% in the past 24 hours.
  • TVL rose to $2.94 billion, and Jupiter launched Metis V8 to reduce execution drift.
  • The technical picture included a daily RSI at 52 and an upsloping.

Jupiter (JUP) rose more than 8% in the past 24 hours, with prices respecting a rising trendline support.

The jump in the JUP token’s value has coincided with the protocol’s total value locked (TVL) climbing to $2.94 billion amid the launch of Metis V8, an update to a routing engine with over $2 trillion in lifetime volume.

As the DEX aggregator’s native token rises, the key question is whether the technical picture gives the bulls an edge.

Jupiter price surges as TVL jumps to $2.94 billion

JUP was trading within an intraday range between $0.19 and $0.21, with prices up more than 8% and daily volume up roughly 37% to over $26 million. The Jupiter market capitalization expanded to $700 million.

Elsewhere, the protocol’s TVL increased to $2.94 billion, marking a notable jump from $2.30 billion on May 1, 2026.

The significant rise reflects renewed capital inflows and increasing usage.

In crypto, total value locked acts as an important metric that measures assets committed to a protocol, indicating liquidity depth, user trust, and the ecosystem’s capacity to support large trades without severe slippage.

Leading tokens contributing to Jupiter’s TVL are SOL, USDE, USDG, and WBTC, highlighting both native Solana liquidity and bridged/pegged assets that underpin cross-asset routing activity.

Jupiter eyes further DeFi traction with Metis V8

As a leading DEX aggregator on Solana, Jupiter has maintained prominence by optimizing routing and reducing execution friction for traders.

The project witnessed negative sentiment that cooled interest earlier in May, aligning with broader market turmoil.

However, the protocol has attracted fresh flows and could reinforce a bullish picture via its product enhancements.

On Wednesday, Jupiter announced the launch of Metis V8, the latest iteration of its DeFi routing engine designed to tighten execution quality.

Metis V8 focuses on reducing Quotation Execution drift using slippage penalties and implements just-in-time (JIT) on-chain finalization to improve execution certainty.

The update also targets sub-2 slot latency and introduces a rapid quotation mode.

Jupiter says the update aims at minimizing adverse price movement between quote and execution.

These technical improvements should strengthen Jupiter’s value proposition for high-frequency routing and larger order flows, potentially translating to sustained TVL and fee generation.

JUP price forecast

The JUP token has bounced strongly from the $0.19 area as bulls attempt to extend a recovery that followed a swift reversal from highs near $0.27 down to $0.18 between May 10 and May 17, 2026.

Gains mean buyers could look to test a key supply zone once more, with this corresponding to local highs recorded in late December 2025 and again this May.

Jupiter Price Chart
Jupiter price chart by TradingView

On the technical front, momentum indicators show mixed signals.

The daily RSI sits around 52 and is upsloping, suggesting mild bullish momentum and room for further gains.

However, the Supertrend indicator currently issues a sell signal, reflecting potential downside risk following the surge from lows of $0.15 in April.

Until price decisively breaks higher, the near-term resistance levels to monitor would be $0.23 and $0.27.

A more significant barrier would be at $0.30 and $0.45. On the flipside, key support levels could be at $0.17 and the $0.14-$0.13 area.

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Bitcoin stays around $77K after 200-day moving average rejection

Key takeaways

  • BTC remains around the $77k level after rejecting the 200-day moving average.
  • The bearish performance comes as rising inflation and Treasury yields weigh on risk sentiment.

Bitcoin slipped below $77,000 earlier on Wednesday after failing to break above the 200-day moving average near $82,000, as rising inflation and tighter macroeconomic conditions weighed heavily on risk assets.

The decline comes after hotter-than-expected U.S. inflation data showed Consumer Price Index (CPI) growth accelerating to 3.8% year-over-year. At the same time, rising oil prices and a surge in the 10-year Treasury yield have reduced expectations for Federal Reserve rate cuts, with markets increasingly pricing in the possibility of a rate hike by December.

Bears continue to dominate the market

According to a report from K33 Research, Bitcoin’s rejection at the 200-day moving average mirrors patterns seen during previous market cycles in 2014, 2018, and 2022, when rapid rebounds were followed by sharp deleveraging-driven sell-offs.

K33 noted that those historical recoveries rebuilt trader confidence and leverage quickly, leaving markets vulnerable to aggressive corrections once momentum faded.

“A core ingredient in the ensuing legs lower was the unwind of positions built up during the rally itself,” the report stated.

However, analysts emphasized that the current cycle differs in several important ways. Bitcoin took significantly longer to revisit the 200-day moving average after breaking below it, spending 189 days before retesting the level in May. That compares with 96 days in 2014, 132 days in 2018, and 85 days in 2022.

Derivatives data suggest traders remain cautious rather than excessively bullish. Funding rates have stayed negative for 81 consecutive days, while options market skews are hovering near yearly highs, indicating persistent defensive positioning.

Institutional flows have presented a mixed picture. Global Bitcoin exchange-traded products (ETPs) recorded their largest weekly outflow of the year last week, totaling 24,303 BTC. The figure marked the ninth-largest five-day outflow since the launch of U.S. spot Bitcoin ETFs.

K33 noted that selling pressure intensified as Bitcoin approached the average ETF cost basis, a level that has historically triggered elevated outflows.

Bitcoin technical outlook: BTC consolidates around $77,000

At the time of writing, Bitcoin is hovering near $77200, slightly above the 50-day EMA at $76,743 and the 100-day EMA at $76,867. 

However, the broader trend remains constrained by the 200-day EMA at $81,845, which continues to act as a strong overhead resistance level.

This positioning suggests that while short-term buyers are attempting to stabilize price action, longer-term trend signals have yet to confirm a bullish reversal.

Technical indicators point to declining bullish momentum. The Relative Strength Index (RSI) is drifting toward the mid-40s, indicating weakening buying pressure without yet reaching oversold conditions.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains firmly in negative territory, reinforcing the view that recent upward moves have lost strength following the prior rally attempt.

If the rally resumes, immediate resistance is located at the 50% Fibonacci retracement level of the recent rally around $78,962. A breakout above this zone would be needed to challenge higher levels.

BTC/USD 4H Chart

However, if the selloff continues, initial support is anchored by the 50-day EMA at $76,743. A break below this level could expose Bitcoin to further losses toward the 38.2% Fibonacci retracement at $74,487.

Deeper support lies near the reclaimed trendline around $70,785, with the 23.6% retracement level at $68,950 acting as a final key cushion for the current structure.

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