empty
 
 
12.05.2021 09:59 AM
Technical Analysis of ETH/USD for May 12, 2021

Crypto Industry News:

Ethereum behaves like an express train with many on-demand stops on its route, but no one presses a button. The ETH / USD exchange rate recorded another price record this morning.

At the time of this publication, ETH prices are showing an 11% increase in the last 24 hours, with a 100% rally over 30 days. In the last 361 days, this gives a result exceeding 2215% (according to CoinGecko).

As the price rose, the ETH capitalization, which exceeded $ 500 billion for the first time in history, also had a new milestone.

Currently, ETH is worth more than the financial services giant Visa, which last month began a pilot settlement of USD Coin (USDC) stablecoin transactions on the Ethereum blockchain.

Technical Market Outlook:

The ETH/USD pair has made a new all time high at the level of $4,363, so all the drop after the Bearish Engulfing candlestick pattern was made has been retraced already. The next target for bulls is seen at the level of $4,500 as the up trend continues.The zone between the levels of $4,000 - $3, 980 will now act as a short-term demand zone. The key short-term support is seen at the level of $4,204. The momentum is strong and positive, so it supports the bullish outlook for ETH.

Weekly Pivot Points:

WR3 - $4,545

WR2 - $4,714

WR1 - $4,394

Weekly Pivot - $3,656

WS1 - $3,369

WS2 - $2,577

WS3 - $2,290

Trading Recommendations:

The longer term up trend on the Ethereum continues despite the local counter-trend corrections. The next long term target for ETH/USD is seen at the level of $5,000. The key long term technical support is seen at the level of $3,881, so only a weekly candle close below this level will invalidate the bullish scenario.

This image is no longer relevant

Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Abril, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 100% de bonificación
    Su oportunidad única de obtener un bono del 100 % en su depósito
    OBTENER BONO
  • 55% de bonificación
    Solicite un bono del 55% en cada depósito
    OBTENER BONO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback