ETH: Weekly Analysis & Trade – 19 May 2023
19 May 2023
ETHEREUM: WEEKLY SCENARIO
ETHEREUM Technical Analysis: Weekly Chart
In the weekly charts, Ethereum was trading in a down channel. Ethereum is currently trading above the middle line of the Bollinger band
RSI is in the selling zone which indicates bearishness. MACD is currently below zero which indicates bearishness.
Its immediate support is 1300.00 the resistance level is at 2000.00
Ethereum was traded in a down channel before there is an upside breakout.
ETHEREUM Technical Analysis: Daily Chart
In the daily charts, Ethereum is trading in a down channel. Ethereum is currently trading below the middle line of the Bollinger band.
RSI is in the neutral zone which indicates neutralness. MACD is currently below zero which indicates bearishness.
Its immediate support is 1650.00 the resistance level is at 1850.00
Ethereum will trade in a down channel until there is a trend reversal.
How to Trade Ethereum this Week:
Ethereum will follow the uptrend until its trend reversal. So, remain bullish on Ethereum.