Ethereum’s market dominance has surged in May, with ETH retaking a 10% market share for the first time since March. However, the overbought RSI levels on ETH.D signal potential risks ahead. The current RSI spike is the most overextended since May 2021, historically preceding major pullbacks in Ethereum’s dominance. Analysts suggest a 10-15% price correction as ETH/USD shows a bearish divergence on the four-hour chart. Despite the short-term concerns, some view the potential pullback as a ‘buy-the-dip’ opportunity before a move towards $3,500-$3,800. The rising dominance of Ethereum has outperformed the broader crypto market, with ETH surging over 50% month-to-date in May. Signs of overheating suggest caution for Ethereum bulls as the market share continues to rise. The ETH.D metric risks declining towards its 50-day EMA support, indicating a possible capital rotation out of Ethereum markets in the coming weeks. A bearish divergence on the four-hour ETH/USD chart signals a 15% price drop, with potential support zones at lower Fibonacci levels. Analysts anticipate a decline in ETH as a buying opportunity, with predictions of a rally towards $3,500 and even $3,800. This article provides insights into the current market trends of Ethereum and does not offer investment advice. Investors are advised to conduct their own research before making any decisions.