ETH to USD, 15th May: Ethereum Price Analysis, Bulls vs Bears12

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Technical Indicators:

Support Levels: $210, $200

Resistance Levels: $225, $230

 

Key Points:

  • Ethereum price broke above $210 resistance and even tested the $225 resistance zone.
  • As long as ETH is above $200, it is in a positive zone and might soon test $225, $230 and $240 resistance levels.
  • A bull pattern is being formed on the hourly chart with the support at around $210.
  • ETH is currently supported at $210 and $200 levels.

 

Ethereum Price Analysis:

SUMMARY: Ethereum price spiked upwards and broke above $210 and $220 levels. ETH is currently in an uptrend and will most likely test $225 and $230 resistance levels soon.

 

Ethereum price traded with a bullish momentum yesterday and broke above $210 resistance level. $200 level was turned into good support for ETH which helped in clearing above $210 level. The bulls were able to push the price well above the 100 hourly SMA and $215. Ethereum price soon moved over $220 and even tested the $225 resistance level where sellers appeared and ETH started a downward correction.

 

The current support for ETH lies at $210 below which it might test $200 level. A bullish pattern line is also being formed on the hourly chart with the support at $210. If ETH is able to break above $225 resistance level, it might soon test $230 and $240 levels. However, it seems that Ethereum price might correct downwards towards $210 or even $200 levels before it can start a fresh bull run.

 

ETH to USD Price Chart 15th May
ETH to USD Price Chart 15th May

The chart shows that Ethereum price is currently trying to gain momentum above $210 and $200 support levels. Until Ethereum stays above $200, it is in a positive zone and might move towards $225 and $230 levels soon. However, the momentum might turn bearish if ETH falls below $200 support level.

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Janet F. Sanchez
Janet Sanchez writes articles which, considering where you’re reading this, makes perfect sense. She is best known for writing cryptocurrency related news and blogs. She also writes about business, finance, and technology. Working from home and taking care of her little son, she has a passion for writing.

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