Categories: Ethereum

Ethereum Price Analysis: ETH/USD Approaching Resistance at $194

Click here to view original web page at www.coinspeaker.com
Photo: Marco Verch / Flickr

Key Highlights:

  • The Bulls are now fully in control of the Ethereum market;
  • price retracement is inevitable;
  • Ethereum price may further increase to $194 price level in case $186 level holds.

ETH/USD Medium-term Trend: Bullish

Supply Zones: $194, $201, $208
Demand Zones: $186, $178, $150

ETH is on the bullish trend on the medium-term outlook. Ethereum started a range-bound movement on April 30 within the $167 demand level and $178 price level. The sideways movement continues until yesterday (May 06).

The Bulls prevailed over the Bears by gaining more momentum than the Bears. Strong bullish candles emerged and broke up the $178 level and $187 level. The bullish momentum extended to the $194 before the Bears reacted to the price increase and Ethereum price was placed near $186 level.

The 21 periods EMAs and 50 periods EMA pointing up with Ethereum price trading above the two EMAs as a sign of a bullish trend. The Moving Average Convergence Divergence period 12 is above zero levels with its signal lines pointing up to indicate buy signal and continuation of Ethereum price increase.

The pullback is inevitable in a trending market and that is what Ethereum market is experiencing at the moment. In case the Bulls lose their momentum and the $187 level does not hold, the Bears will push the ETH price down to $178. However, a further increase in the Bulls’ momentum may push up the price to break up $194 level and expose $201.

ETH/USD Short-term Trend: Bullish

On the short-term outlook, ETH price is Bullish. The Bulls were fully in control of the Ethereum market. The bullish momentum that made ETH broke out from the ranging zone had a pause at $187 level after which it broke up the $178 level. Ethereum price pulled back before the Bulls gather momentum and broke up $187 level on May 06.

The MACD period 12 with its histogram is above zero levels and the signal lines making an attempt to bend down which may be a pullback.

The Bulls are now fully in control of the Ethereum market;

price retracement is inevitable; Ethereum price may further increase to $194 […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Who’s Trading Bitcoin? A Look at Trading Volume by Country in 2019

If you look for statistics on bitcoin trading volume by country, you may be surprised to learn that there is… Read More

41 mins ago

PR: Kinesis Partners With Hardware Wallet Provider CoolbitX

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material.… Read More

41 mins ago

FT Compares Bitcoin Salaries to De Facto Slave Labor

Getting paid in bitcoin? You should be offended, apparently. | Source: Shutterstock; Edited by CCN By CCN Markets : In… Read More

41 mins ago

How blockchain is revolutionizing recruitment

There is no denying that blockchain technology has the potential to completely revolutionize most – if not all – industries… Read More

42 mins ago

Bitcoin Price ‘Will Struggle’ in Big Financial Crisis, Says Investor

Spencer Bogart, a general partner at venture capital firm Blockchain Capital, thinks that Bitcoin ( BTC ) will be a… Read More

43 mins ago

Pompliano: Bitcoin Will Be In Every Institutional Investor’s Portfolio

American investor and Morgan Creek Digital Assets co-founder Anthony Pompliano says that Bitcoin will end up in every institutional investor’s… Read More

44 mins ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More