Ethereum (ETH) Price Analysis (May 12)

• Ethereum price stays above the EMA-50 as bulls took to gain market momentum in the medium-term.
• The market is going in favor of the bulls at the present in the short-term.

ETH/USD Medium-term Trend: Bullish

Key levels
• Resistance levels : $260, $270, $280
• Support levels: $85, $75, $65

ETHUSD is in an uptrend in its medium-term outlook. The close of yesterday’s session with a bearish doji candle at $175.72 is an indication of a trend reversal.

The daily candle opens today on a bullish note at $185.59 in the resistance area. Increase momentum by the bulls moves the price up to $191 in the resistance area.

Price is above the EMA-50 in the resistance area an indication that the price of Ethereum is in an uptrend.

The stochastic oscillator signal pointing down at around level 21% in the overbought region indicates that the price movement might change in the days ahead and in this case, a downtrend in the medium-term. Hence, a sell signal.

ETH/USD Short-term Trend: Bearish

The coin is in a bearish trend in its short-term outlook. The formation of the bearish inverted pin bar at $185.60 at the close of yesterday’s session in the support area indicates a trend reversal. Hence bulls’ brief return.

The bulls’ opens the 4-hourly session today at $185.59 in the resistance area and further increase to $189.39.

The formation of a bearish candle with a wick at $186.52 which indicates a reversal in trend drops the crypto price down in the support area after today’s opening.

Bull’s in-road back into the market moves the price up at $191 as the journey up north begins again.

With the price above the EMA-9 and the stochastic signal at the oversold region pointing upwards at around level 47%; these suggest the bulls are gradually returning into the market and the momentum in price might remain in control of the bulls, in this case, an uptrend in the days ahead in the short-term.

Thus, traders may consider buying with bullish reversal candlestick pattern as confirmation.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication ( holds any responsibility for your financial loss.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Ben Jordan
Ben Jordan
Ben began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Goldman Sachs’ Lazy Bitcoin Assessment is Embarrassing

Crypto community has been eagerly awaiting Goldman Sachs’ client call today in which they were to discuss bitcoin. But it all turned out to be...

Crypto Derivatives Exchange ErisX, Opens API Service for BCH, BTC, ETH, and LTC Block Trading

ErisX REST API will now grant registered clients access to their Block Trade platform. This will be a reserve for the Institutional investors...

Polkadot’s Chain Candidate Goes Live in Anticipation for the Proof of Stake (PoS) Version

Polkadot's initial mainnet has been launched by Web3 Foundation and Parity Technologies according to a blog post on May 26. This much anticipated sharding...

Bitfury Announces Bitcoin Mining Investment Program For Institutional Clients

Bitfury, one of the oldest Bitcoin mining firms established back in 2011, has announced a Bitcoin mining investment program for institutional investors on May...

7 Bullish Ethereum Charts that says Ether is “Significantly Undervalued”

The price of Ether might still be struggling around $200 but its fundamentals are screaming bullish. Post Black Thursday sell off, Ether has been seeing...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today