Ethereum Price Analysis: May 10 Technical Price Analysis for Ethereum 

Like most top ten digital currencies, Ethereum’s prices are steadily recovering. The virtual currency is up by 12% in the last week. Plus the change of stance from the SEC will likely result in more better days for Ether. Casper FFG is currently live at GitHub to provide broader scrutiny which indicates that there is a push behind the scenes to cement Ethereum’s position as the go-to platform for smart contracts and DApps.

Ethereum Technical Analysis

Ethereum’s 12% increase in the last week has seen it outpace Bitcoin. In the daily chart, Ether prices were up by 3% in 24 hours. We can see a stochastic buy signal In the weekly chart turning from below the oversold area. ETH was up by 90% in that time frame after a rebound off 2017’s resistance lines at 350 USD which is close to the 78.6% Fibonacci retracement line thus Ether is deeply oversold. Currently, there’s a retest of the previous support, at 800 USD. Going forward, we should look for buying options in lower times.

SEE ALSO:   Ripple can be the dark horse cryptocurrency of 2018: Ripple Price Predictions - XRP Price Today-Fri Jun 22

According to the 4HR chart, ETH bulls are picking resistance levels at 700 USD. Note that even though it isn’t perfect, a stochastic buy sign is in progress. Now, the reason why we are going to be recommending longs is that of the sequence of events during the last 24 hours in Ether trades. Take note of the higher highs concerning, the lower BB as well as the bullish engulfing candlestick beginning from 700 USD; this is significant because it is in collaboration with the general feeling in the weekly chart along with the widespread rejection of lesser lows just like it was on May 7.

SEE ALSO:   Bitcoin Cash Price Analysis: Can Bitcoin Cash (BCH) Hold The 825 USD level? 

The shift of momentum is going on at the 61.8% Fibonacci retracement level meaning that it is anchoring to last week’s high low. Hence, purchasing with stops below 700 USD can be an excellent strategy moving forward.












Legal Disclaimer: The content of this website ( is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from

SEE ALSO:   Bitcoin Cash (BCH) Price Prediction 2018: What Will The Value Of BCH Be By The End Of This Year? (BCH News Today)

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!

Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!