ETH to USD, 14th May: Ethereum Price Analysis, $250 Possible?

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Technical Indicators:

Support Level: $192

Resistance Level: $215

 

Key Points:

  • Ethereum price turned bullish and reached up to $210 after BTC started to surge above $8000.
  • ETH later started to correct downwards, however, the current support around $192 was strong enough to stop further losses.
  • The bullish pattern which was being formed on the hourly chart yesterday with support at $192 is still on the same chart.
  • ETH will most likely break above $210 resistance levels soon.

 

Ethereum Price Analysis:

SUMMARY: Ethereum price surge over $200 resistance level following bitcoin price momentum. ETH is currently trading with positive momentum and might soon break above $210.

 

From the last few days, Ethereum price has been quite bullish after breaking through the $192 resistance level which has now turned into decent support. ETH was able to break and settle above $200 and the 100 hourly SMA. Unsurprisingly, Ethereum price started to follow the momentum of bitcoin as it moved above $8000 resistance level. ETH also followed and recorded a monthly high at around $210 before correcting downwards.

 

The sellers pushed the price below $200 support level, however, the support around $192 was strong enough to stop the price from falling further. Currently, ETH is trying to gain momentum and moving upwards. The current resistance lies around $210-215, above which Ethereum price might test $220 and $230 levels.

 

The bullish pattern which was being formed yesterday on the hourly chart with support at $192 is still on the same chart. However, the major support for ETH currently lies at $185 and the 100 hourly SMA. Below this level, the overall momentum might turn bearish and Ethereum price might test $170 and $160 support levels.

 

 

ETH to USD Price Chart 14th May
ETH to USD Price Chart 14th May

The chart shows that Ethereum price is trying to gain momentum and slowly moving towards $215 and $220 resistance levels. A break above $215 will push the price towards $220 and even $230 resistance levels in the short term. ETH is currently supported at $192 and $185 on the downside below which the momentum might turn bearish.

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