Ethereum risks a 20% drop in May amid technical resistance and rising geopolitical tensions.

Ethereum (ETH) faces a potential 20% price drop in May due to a strong resistance level near $2,340, where key technical indicators converge, limiting upside momentum. Rising US-Iran tensions are pushing oil prices higher, fueling inflation fears and reducing appetite for risk assets like cryptocurrencies. On-chain data shows weakening whale support and declining derivatives demand, suggesting traders may pull back further. If selling pressure continues, ETH could fall toward the $1,730–$1,850 support zone, with a deeper correction possible if that level breaks. Recovery above the resistance cluster would be needed to resume bullish trends toward $2,800–$3,000.