ETH/USD Technical Analysis May 18

18.05.2020 19:13:52

Ethereum seems to be gaining momentum. The ETH/USD pair is forming a bullish candlestick for the third day in a row. The pair was able to overcome resistance levels around $205 and $210. At the time of publication, the ETH/USD pair is trading around $212 and above the 100 hour MA, forming under uptrend, which provides sufficient support of around $210. The nearest resistance for the ETH/USD pair is in the area of $215. This level may become a new springboard for the ETH/USD pair and send it to the region of $220 and further to $230. Here the bulls will meet the resistance from the bears. Any movement above this level may raise the ETH/USD pair to the $250 area.

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In case of a breakdown of the support level of $210, the ETH/USD pair may fall to the area of ​​$205. If the bulls cannot keep the mark of $205, a further decline is likely to the area of ​​$192.

RSI forms below level 60, losing momentum. Therefore, now attention is focused on the support level of $210.