Ethereum (ETH/USD) Price Trades Below the $2,000 Resistance
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Ethereum Price Prediction – May 30
After a chain of lower lows in the ETH/USD market operations, the crypto-economic price currently trades below the $2,000 resistance level. In the last couple of hours, the crypto economy trading between $1,914 and $1,802 value points at a 3.59% positive.
ETH/USD Market
Key Levels:
Resistance levels: $2,000, $2,250, $2,500
Support levels: $1,750, $1,500, $1,250
ETH/USD – Daily Chart
The daily chart reveals the ETH market price trades below the $2,000 resistance after a line of range motions that invaded the trend in a low-active manner to the downside of the $1,750 support level. The 14-day SMA indicator is beneath the 50-day SMA indicator. The horizontal line drew at the support value line to make it a pivotal baseline. The Stochastic Oscillators have crossed northbound from the range lines of 20 and 40 to swerve-reaching a 70 range. A smaller bullish candlestick is in the making to suggest the current trading situation is witnessing a buying force.
Can the ETH/USD trade push northward to obtain a higher point above the $2,000 resistance?
Likely, sooner than later, the ETH/USD trade may push northward more against the $2,000 resistance level to obtain a higher point afterward. Being as it is, the crypto economy hasn’t pushed out of a bearish-trading setting. The forces backing the upward pushes may not sustain above a trial test of the buy signal side of the 14-day SMA in the long-term run, even if there’ll be a sudden hike around it eventually.
On the downside of the technical analysis, it would be technically ideal that the ETH/USD market sellers wait for a bearish candlestick to form for confirmation of a reversal of the current upward-moving force before considering a selling order option. In the event of price moving in a slow-and-steady manner, the crypto’s worth will increase to average a higher resistant-trading zone around the $2,500 level in the long run.
ETH/BTC Price Analysis
In the last couple of days’ sessions, Ethereum broke down significantly against a previous critical point, pairing with the trending capacity of Bitcoin. The 14-day SMA indicator has intercepted the 50-day SMA indicator from the top. The current set of trading candlesticks reflects a rejection at an early stage to indicate the base crypto has not been able to garner the required energy to shoot up against its counter-trading crypto. Therefore, it can still be a while before upspring starts returning in this pairing-trading cryptos.
Note: Cryptosignals.org 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.
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