. ETH: Weekly Analysis & Trade - 19 May 2023

ETH: Weekly Analysis & Trade – 19 May 2023

19 May 2023

ETHEREUM: WEEKLY SCENARIO

ETHEREUM Technical Analysis: Weekly Chart

weekly technical analysis

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

weekly technical analysis

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.

TRADE SUGGESTION- BUY AT 1850.90, TAKE PROFIT AT 2000.00, AND STOP LOSS AT 1750.00.