Ethereum (ETHUSD) Price Forecast: May 2
ETHUSD is actually making positive moves at the moment. There is a possibility for the cryptocurrency to swing up further and test the supply level of $2142.85. Should the bulls increase their pressure, the resistance level of $1939.76 may not hold and it may extend to the 2500.00 high level and beyond.
Key Levels:
Resistance Levels: $1800.00 $1900.00, $2000.00
Support Levels: $1400.00, $1300.00, $1200.00
ETH (USD) Long-term Trend: Bullish (Daily Chart)
Ethereum price indicates an upward trend with a bullish sentiment in its long-term perspective. The coin is trading above the level of $1926.81 The market is presently facing resistance at the recent high.
The bulls’ action increases the price of ETHUSD up to the $1939.76 resistance level above the moving averages even as the daily session opens today. A break above $2142.85 would intensify the buying pressure on the cryptocurrency.
The momentum indicator also signaled up indicating an uptrend. Buyers are expected to continue with the trend and in this case, the price might possibly reach the $2500.00 resistance value soon in its long-term perspective.
ETH (USD) Medium-term Trend: Bullish (4H Chart)
On the medium-term outlook, the ETHUSD pair also remains in an uptrend. Firstly, the crypto has broken above the moving averages which indicates a possible rise of the pair. The pair is currently above the level of $1921.11.
The sustained bullish pressure at the $1919.15 level during yesterday’s session actually made it capable for the buy investors to retain the strength in its recent high.
The market price is currently trading at the $1934.78 resistance level above the moving averages, this means that the bulls are in control of the market at the moment. The longer the price stays above the mentioned level, the more pressure builds up to reach a key significant level at the upside.
The uptrend is currently facing resistance at level $2142.85, therefore if additional selling power is prevented the price may likely hit the $2500.00 upper resistance value soon in its medium-term outlook.
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