Author Topic: Ethereum Price Analysis ? May 15  (Read 509 times)

Offline Cryptoglobe

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Ethereum Price Analysis ? May 15
« on: May 15, 2018, 03:31:17 PM »
ETHUSD Medium-term Trend: Ranging


Resistance: $760, $750, $740   
Support: $700, $710, $720   

Yesterday, May 14th  the overall trend of Ethereum was bearish.  The price of the asset had fallen from the highs of $830, $767 and $735 as per the bearish trend line.  However, at the time of writing, the MACD line and the signal line were above the zero line indicating a buy signal.  The price bars of Ethereum were above the 12-day EMA and 26-day EMA indicating that the bullish trend is ongoing.

It was assumed that if the support level was broken, Ethereum would find support at $672.  Today, Ethereum is currently trading at $723. 67 at the time of writing.  From the weekly chart, the price of the asset is above the $700  level.  The asset is ranging from the support level at $700 to the resistance level at $750.  Today the indicators are showing bullish signals.  The MACD line and the signal line are above the zero line indicating a buy signal.

The price bars of Ethereum were above the 12-day EMA and 26-day EMA indicating that the bullish trend is ongoing.  Therefore the price is expected to test the resistance level at $750 and reach further highs.


ETHUSD Short-term trend: Ranging

On the daily chart, the price of Ethereum is in a ranging market.  At the levels of $690 and $700, the price of Ethereum was ranging.  Then it had a bullish movement which took it to the high of $740.  At the high of $740, it resumed its range bound movement.   

       
The views and opinions expressed here do not reflect that of CryptoGlobe. com and do not constitute financial advice.  Always do your own research.

SOURCE: https://www. cryptoglobe. com/markets

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Ethereum Price Analysis ? May 15
« on: May 15, 2018, 03:31:17 PM »

 

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