Ethereum Price Prediction Today: Daily (ETH) Value Forecast – May 16

ETH /USD Medium-term Trend: Bullish

• Resistance Levels: $250, $260, $270
• Support Levels: $240, $230, $220

Yesterday, May 15, the price of Ethereum was in a bullish trend. Since on May 14, the crypto’s price was making a series of higher highs and higher lows. The market rose from its low at $216.50 to a high at $270 price level. From the chart, the market has retraced to the support of the bullish trend line.

If the price is holding at the support of the trend line, the crypto’s price will resume its bullish trend to retest the $270 price level. However, if the price breaks the trend line, it is likely that the selling pressure will resume. That is the price is likely to fall to another low at $226 price level. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the price of ETH was in a bullish trend zone. Yesterday, the ETH price was trading at $246.78 and the price level was sustained up till the $270 price level. Presently, the bulls tested the $270 resistance level and were resisted. The crypto’s price has broken the trend line and another bearish candlestick closing after it. Technically, the current trend is likely to have reversed. The coin is currently trading at $259.30 as at the time writing.


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



Source: www.bitcoinexchangeguide.com

One of the latest yet not so newer investment sectors in the present day is: digital currency. An assortment of crypto currencies where crypto graphic is being used to secure protection are now being traded and exchanged by the traders. And some of the mostly traded crypto currencies are: Etherum, Ripple, Bit-coin, Lite-coin, etc. However, even in working with crypto currencies a trader should try to pick up a regulated broker.

There are many sorts of market analysis. Among them, technical analysis and fundamental analysis are the main two analysis. This two analysis is also used in the equity market. BPRIMES helps me by analyzing the market in an above-mentioned way. An analysis is very important in forex trading. To do a successful trading business do not fully depend on your broker. Analyze the market by own self. Otherwise, you cannot understand that your broker is doing right or wrong.