Thread: Ethereum Price Analysis – May 29

ETHUSD Daily Trend – Bullish


Distribution territories: $570.00, $580.00, $590.00.
Accumulation territories: $550.00, $540.00, $530.00.


Ethereum had been significantly suffering from the strength of the US dollar. ETHUSD yesterday declined sharply in value up to the point of touching the accumulation territory of $500.00. The buyers managed to stage a good come-back into the market play while a decent Japanese bullish candlestick was formed above the trend-line of the 13-day SMA.

The buyers have moved the market value up to the point of touching the distribution territory of $570.00, today. The sellers’ strength has now been weakening against the buyers’. The 13-day SMA has crossed the 50-day SMA from below. The Stochastic Oscillators have crossed the range of 20 into the oversold zone but now point northwards. The current sudden upward stride in the market movement of ETHUSD is expected to continue giving more strength to the buyers. The sellers will now probably find it necessary to exercise a kind of precautionary bias of placing or entering the trades.



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/price-analysis

Bitcoin Price Analysis – May 30


BTCUSD Medium-term Trend: Bullish

Resistance: $7,800, $7,700, $7,600
Support: $7,200, $7,300, $7,400

On 24 May, the Bitcoin price broke the support level at $7,500 after several days of fluctuating below and above that level. The asset fell to $7,127 and resumed a range-bound movement. The range-bound movement resulted in a bullish breakout above $7,500. The asset was trading at $7,548.60 at the time of writing.

Today, the weekly chart shows that the Bitcoin price attempts to establish itself above the $7,500 level. A bearish trend line is drawn across the price bars, to determine the end of the bearish trend. On 29 May, the Bitcoin price has broken the bearish trend line and the candlestick closed on the opposite of the trend line. The asset was also in a bullish movement above $7,500.

This implies that the bearish trend may have ended. However, if the price consolidates and establishes above the $7,500 level, traders can initiate long trades.


BTCUSD Short-term Trend: Bullish

On the daily chart, the Bitcoin price is in a bullish trend. The bearish trend made the asset fall to $7,100. After the price consolidated at $7,100 for two days, it made a bullish movement to $7,400. It was at that price level that the asset made its way above $7,500.


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/price-analysis

Bitcoin Price Analysis – May 30


BTCUSD Medium-term Trend: Bullish

Resistance: $7,800, $7,700, $7,600
Support: $7,200, $7,300, $7,400

On 24 May, the Bitcoin price broke the support level at $7,500 after several days of fluctuating below and above that level. The asset fell to $7,127 and resumed a range-bound movement. The range-bound movement resulted in a bullish breakout above $7,500. The asset was trading at $7,548.60 at the time of writing.

Today, the weekly chart shows that the Bitcoin price attempts to establish itself above the $7,500 level. A bearish trend line is drawn across the price bars, to determine the end of the bearish trend. On 29 May, the Bitcoin price has broken the bearish trend line and the candlestick closed on the opposite of the trend line. The asset was also in a bullish movement above $7,500.

This implies that the bearish trend may have ended. However, if the price consolidates and establishes above the $7,500 level, traders can initiate long trades.

BTCUSD Short-term Trend: Bullish

On the daily chart, the Bitcoin price is in a bullish trend. The bearish trend made the asset fall to $7,100. After the price consolidated at $7,100 for two days, it made a bullish movement to $7,400. It was at that price level that the asset made its way above $7,500.


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/price-analysis

Ethereum Price Analysis – May 31


ETHUSD Medium-term Trend: Bullish

Resistance: $585, $580, $575
Support: $555, $560, $565

Yesterday, 30 May, the ETHUSD pair was in a bullish market. Ethereum had established itself above the $550 price level. Meanwhile, the MACD line and the signal line were above the zero line, indicating a buy signal. Also, the price was above the 12-day and 26-day EMA indicating that the bullish trend was ongoing. Ethereum is currently trading at $569.10 at the time of writing.

Nevertheless, today, the Ethereum price is sustained above $550. The asset price is fluctuating between $550 and $600 since 29 May. Meanwhile, the MACD line and the signal line are above the zero line, indicating a buy signal. The Ethereum peice is above the 12-day and the 26-day EMA, indicating that the bullish trend is ongoing.

However, since the asset price has been sustained above the $550, traders should initiate long orders above that level.


ETHUSD Short-term trend: Bullish

The daily chart shows that Ethereum is in a bullish market although the MACD line and the signal line are below the zero line, indicating a sell signal. The asset may reach $600 if the resistance level at $570 is broken.


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/price-analysis