Ethereum Is in a Downward Correction as It Faces Rejection at $2,167

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


Ether plunges to $1,763 low
ETH/USD is in a downward correction

Ethereum ETH) Current Statistics
The current price: $2,078.35
Market Capitalization: $250,631,086,382
Trading Volume: $17,295,106,068
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis May 15, 2022
Ethereum’s (ETH) price is in a downtrend as it faces rejection at $2,167. The largest altcoin  fell to the low of $1,763 on May 12. The crypto made an upward correction to the high of $2,167. However, the uptrend was repelled as the altcoin resumed its downward move. The bulls could not sustain the bullish momentum above the $2,200 resistance level. On the downside, if the current support holds, Ether will be in a range-bound move between $1,763 and $2,200 price levels. On the other hand, if Ether faces rejection of the recent high, the downtrend will resume. The altcoin will decline to the previous low at $1,763.

Ethereum Is in a Downward Correction as It Faces Rejection at $2,167
ETH/USD – Daily Chart

ETH Technical Indicators Reading
The altcoin is at level 32 of the Relative Strength Index for period 14. Ether is trading in the oversold region of the market as buyers push the altcoin to the previous highs. The 21-day line and the 50-day line SMA are sloping southward indicating the downtrend. The 21-day line SMA is acting as resistance to Ether’s price. The altcoin is above the 80% range of daily stochastic. Ether is falling as the bulls fail to break the recent high.

Conclusion
Ethereum has fallen to the oversold region as it faces rejection at $2,167. Buyers have emerged to push Ether to the previous highs but the upward correction is facing rejection at the recent high. Meanwhile, on May 10 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that ETH will fall to level 1.618 Fibonacci extension or $1,897.39.

 Ethereum Is in a Downward Correction as It Faces Rejection at $2,167
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 results

  • 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

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *