Categories: Ethereum

Ethereum ETH price analysis 10 May; bulls may return green

Click here to view original web page at www.cryptopolitan.com
Ethereum ETH price analysis 10 May; bulls may return green 1
Ethereum (ETH) is experiencing a bullish momentum in its short-term trading preferences as the cryptocurrency has started to improve.

Moving beyond its 200-period moving average on the four hours’ time frame which depicts that the buyers quashing bearish head and shoulders pattern.

Ethereum ETH price chart created with Trading View

The current improvement is generating a bullish inverted head and shoulders pattern. Currently, Technical indicators depict miscellaneous signals and failed in generating a vibrant trading signal.

The dealers must focus on the fact that the upside target of the bullish inverted head and shoulders pattern on the four-hour time frame might take the ETH/USD duo to the two hundred and twenty dollars ($220.00) mark.

The RSI and MACD indicators have turned bullish on the 4hrs time frame but have been unsuccessful in generating a clear trading sign.

Ethereum ETH price analysis 10 May; bulls may return green 3

ETH has experienced a progressively bullish drive in its mid-term outlook as the ETH/USD duo still trade above its 200-day moving average.

The daily time frame is depicting a bullish outlook ahead of the neckline of the inverted head and shoulders pattern with the level one hundred and sixty-five dollars ($165.00) acting as a decisive pivot point.

Currently, the technical indicators are bullish and show the probability of more hike. Dealers must focus on the fact that if the inverted head and shoulders pattern extents its upside plan then a greater bullish pattern will form on the daily time frame.

The RSI and MACD Indicators are currently neutral and do not portray a signal. The topical refutation of bears on the four-hour time frame bids a robust sign that the ETH/USD duo might attack the two hundred dollars ($200.00) opposition level.

On the other hand bulls on the daily time frame recommend ETH/USD targeting the two hundred and sixty-five dollars ($265.00) resistance mark.

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

New York Gym Grit Bxng Accepts BTC Payments

Who would have ever thought that working out and bitcoin could ever go together? Well, thanks to a new Manhattan-based… Read More

4 hours ago

Are Whales Behing Bitcoin’s Latest Dips?

A reason for the recent up-and-down behavior of bitcoin may have been uncovered. It’s being reported that several whales moved… Read More

4 hours ago

Bitcoin Drops Below $10,000 as Support Wears Thin

Bitcoin (BTC) has once again found itself caught in the throes of a choppy trading range that has provided little… Read More

4 hours ago

Bitcoin Bottomed at $9,080, BTC to Rally Into End of 2019

Once again, Bitcoin (BTC) has stagnated, finding a foothold around $10,000 for the umpteenth time in a matter of weeks.… Read More

4 hours ago

Cresio CIO Comments, New ‘Satoshi’ and BTC Games: This Week in CT Spain

As many of our readers probably know, Cointelegraph has a number of non-English branches, each covering news from different parts… Read More

4 hours ago

VeChain Attends Shanghai International Blockchain Week 2019

SHANGHAI, Aug. 24, 2019 /PRNewswire/ -- From September 14-18, 2019, Shanghai International Blockchain Week 2019, the largest and most influential… Read More

4 hours 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