Ethereum Bounces above $1,800 Support and Resumes Its Upward Trend
Login

Ethereum Bounces above $1,800 Support and Resumes Its Upward Trend

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Ethereum ETH) Current Statistics
The current price: $1,889.57
Market Capitalization: $227,254,327,430
Trading Volume: $6,800,013,559
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis May 29, 2023
Ethereum (ETH) price rises above the moving average lines and resumes its upward trend. The price of cryptocurrency is bouncing between moving average lines and below resistance. If the price rises above the resistance level at $1,920, Ether will resume its current upward trajectory. The market will improve, causing Ether to reenter the psychological $2000 price range. However, a further upward advance is unlikely as the market gets closer to the overbought region. Over the moving average lines, the biggest alternative coin is retracing downward. The current trend might continue if the price of the coin stays above the moving average lines. Ether, on the other hand, will lose value if the price goes into the range-bound zone. In other words, the fixed price of Ether will be set somewhere between $1,750 and $1,920.

Ethereum Bounces above $1,800 Support and Resumes Its Upward Trend
ETH/USD – Daily Chart

ETH Technical Indicators Reading
At level 59 of the Relative Strength Index for period 14, Ether is in the positive trend zone. Because the price bars are just above the moving average lines, the altcoin will increase. Ether is currently in an overbought area and at risk of more loss. The coin is below the daily Stochastic level of 80.

Conclusion
Ethereum reaches a point of bullish exhaustion and resumes its upward trend. The altcoin retraced the low of $1,876 and is now consolidating above it. The cryptocurrency’s price is in the range-bound region but is above the moving average lines. Selling pressure will increase once more if the price falls below the 50-day SMA.

Ethereum Bounces above $1,800 Support and Resumes Its Upward Trend
ETH/USD – 4 Hour Chart


You can purchase crypto coins here. Buy LBLOCK


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News