Ethereum Price Anticipates Upside Break To Shift Sentiment Towards Bullish

May 15, 2024 04:00 am Cryptocurrency 453

Ethereum price is eyeing an upside break above the $2,900 level. ETH must settle above $2,900 and $2,940 to continue higher in the near term.

Ethereum is forming a base above the $2,860 support zone.

The price is trading below $2,950 and the 100-hourly Simple Moving Average.

There is a key bearish trend line forming with resistance at $2,905 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a decent increase if there is a close above the $2,940 and $2,950 resistance levels.

Ethereum Price Eyes Fresh Increase

Ethereum price struggled to settle above the $3,000 level and started another decline, like Bitcoin. ETH traded below the $2,950 and $2,940 support levels.

The price even traded below $2,900. However, the bulls were again active near the $2,860 support zone. A low was formed at $2,860 and the price is now consolidating losses. It is slowly moving higher above the $2,885 level.

Ethereum is ..

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