Ethereum ( ETH) Looks Solid above $200, Faces Strong Rejection at Higher Price Levels: Price Analysis


NordFX

Key Highlights

  • Ethereum is still battling the resistance at $210 and $215
  • The biggest altcoin risks a downward move if the bulls fail to break the current resistance levels

Ethereum (ETH) Current Statistics

  • The current price: $210.88
  • Market Capitalization: $23,431,664,745
  • Trading Volume: $10,299,227,723
  • Major Resistance Zones: $175, $200, $225
  • Major Support Zones: $125, $100, $75

Ethereum (ETH) Price Analysis May 28, 2020

Ethereum bulls have two hurdles to jump over. The price hurdles include the resistance levels at $210 and $215. Since on May 20, buyers have relentlessly battled the resistance at 210. The bulls have made three unsuccessful attempts to break it. Today, Ether is continued its upside movement to break the initial resistance.

ETH/USD - Daily Chart

ETH/USD – Daily Chart

On the upside, a break above the resistance at 210 and 215 will accelerate the upward movement to retest the $227 overhead resistance. The bullish momentum will extend to the highs of levels of $230 and $240. The biggest altcoin will remain range-bound below the resistance levels pending the breaching of the overhead resistance.

Ethereum Technical Indicators Reading

The bulls have broken above the 12-day EMA and 26-day EMA. As long as the price is sustained above the EMAs, the uptrend will be sustained. However, a break below the EMAs will interrupt the uptrend. Before now the market was earlier in a downward move after the resistance at $215. Meanwhile, ETH is above 50 % range of the daily stochastic. This explains the crypto is in a bullish momentum.

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Author: Mustapha Azeez

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Author: Mustapha Azeez