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

Coinnounce Team -

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

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.