Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Rakin343 on May 03, 2021, 11:24:39 PM
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Following a successful breaking of the $2,544 resistance, Ethereum bulls have breached more resistance levels. Presently, Ether is trading at $3,199 at the time of writing. The current uptrend is retesting the resistance at $3,200.
As a result of the minor resistance, the biggest altcoin is retracing on the downside. The biggest altcoin will rise to $3,500 if the initial resistance is breached. However, if the altcoin turns down from the recent high, the market will decline to $2,800 support. Besides, sellers are likely to emerge as the altcoin is said to be in the overbought region since April 28.
Ethereum indicator analysis
In the current bullish run, Ether price has broken the resistance line of the ascending channel. The current uptrend will continue if the price breaks and closes above the resistance line. In the meantime, ETH is at level 78 of the Relative Strength Index period 14, Also, Ether is above the 80% range of the daily stochastic. The price indicator has shown that the altcoin is trading in the overbought region of the market. Therefore, we should expect a downward movement of price. Source (https://cryptonews.net/606322/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)