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Ethereum (ETH) Price Analysis for May 28

Sun, 05/28/2023 - 13:57
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Denys Serhiichuk
Is Ethereum (ETH) ready for short-term rise?
Ethereum (ETH) Price Analysis for May 28
Cover image via www.tradingview.com

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Bulls are holding the gained initiative, according to CoinMarketCap's ranking.

Top coins by CoinMarketCap

Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) has gained less than Bitcoin (BTC), going up by 0.93%.

ETH/USD chart by TradingView

Image by TradingView

The last day of the week has started with a price blast for Ethereum (ETH). At the moment, one should pay attention to the recently formed resistance at $1,860.

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DOGE Price Analysis for May 27

If closure happens near it, there is a chance to see a breakout followed by a further rise to the $1,880 zone.

ETH/USD chart by TradingView

Image by TradingView

On the daily time frame, the price of Ethereum (ETH) keeps trading sideways, accumulating power for a further sharp move. A continued rise is only possible if the candle fixes above the important zone of $1,880.

ETH/USD chart by TradingView

Image by TradingView

On the bigger chart, the price has consolidated above the support level at $1,737. If the situation does not change by the end of the day, one can expect a test of the $2,000 mark by mid-June.

Ethereum is trading at $1,844 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.