- On the upside, if the bulls break the $280 resistance level, the crypto’s price will rise to a high of $ 320.
- On the downside, if the bears break the $240 price level, the crypto’s price will fall to a low at $160 or $180 price level.
ETH/USD Long-term Trend: Bullish
- Resistance Levels: $280, $300, $320
- Support Levels: $240, $220, $200
The ETH/USD pair is trading in the bullish trend zone. The price of Ethereum was initially in a sideways trend at the beginning of May. The bulls were resisted at the $180 price level. The ETH market was in a sideways trend trading below the $180 price level. On May 11, the bulls broke the $180 resistance level and the crypto’s price rose and tested the $280 resistance level.
Nevertheless, since on May 16, the ETH market has been fluctuating between the levels of $240 and $280 . Each time the bulls tested the $280 resistance level, the price would fall to the support of the 12-day EMA. On May 31 the price retraced to the support of the 12-day EMA or $240 price level. On the upside, if the bulls break the $280 resistance level, the crypto’s price will rise to a high of $ 320.
On the downside, if the bears break the $240 price level, the crypto’s price will fall to a low at $160 or $180 price level. On May 1, the coin has an opening balance of $170 and a closing balance of $267 as at May 31. This implies that the price of Ethereum has appreciated by 57% of its capitalization in the month of May, 2019. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.
Ethereum’s price is $268.89 ETH/USD exchange rate today. The real-time ETH market cap of $28.58 Billion currently ranks #2 with , daily trading volume of $3.01 Billion and live coin value change of ETH 6.07 in the last 24 hours.
Latest Ethereum Price Analysis, Chart Forecasts and Blockchain News
The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.
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