Ethereum Price Prediction – May 30
If the Ethereum price prepares for the uptrend, the coin will be technically and fundamentally ready to break above $2,500 and $3000 respectively.
Resistance levels: $3100, $3400, $3700
Support levels: $1500, $1200, $900
ETH/USD is seen trading below the 9-day and 21-day moving averages within ascending channel. The second-largest cryptocurrency might kick-start another bullish run back above $2500 if the market price crosses above the 9-day and 21-day MA. Therefore, the break above this resistance is the first signal needed for a bullish to press higher. Nevertheless, ETH/USD has to break beyond $2500 before hitting $3000 and beyond.
Ethereum Price Prediction: What to Expect from Ethereum
Looking ahead, if the buyers continue to grind higher, the first resistance level may be located at $2600 as this could also be followed by $2800. However, additional resistance may also be found at $3100, $3400, and $3700 respectively. On the other side, if the Ethereum price moves below the lower boundary of the channel, it could hit the first support level at $350.
Beneath this, staying below the lower boundary of the channel may lead to the critical support levels at $1500, $1200, and $900. Meanwhile, the technical indicator Relative Strength Index (14) poked itself above the 40-level, which indicates the buyers are attempting to gain control of the market momentum and this, could also mean that another signal of ETH could be pushing back above $2500 soon.
When compares with Bitcoin, the daily chart shows that the Ethereum price is making an attempt to cross above the 9-day moving average around the 6757 SAT. However, as soon as the price is above the 9-day and 21-day MAs, there is a possibility that additional benefits could be obtained in the long term. Therefore, the next resistance key above this level is close to the 7800 SAT level. If the price keeps rising, it could even break the 8000 SAT and above in future sessions.
However, if the bears regroup and move below the lower boundary of the channel, 6500 SAT and 6000 SAT supports may play out before rolling to the critical support at 5400 SAT and below. The Relative Strength Index (14) is moving above the 50-level, suggesting more bullish signals.