Ethereum price (ETHUSD) gets negative motive – Forecast today - 03-05-2024
Economies.com
2024-05-03 03:38AM UTC
Ethereum Price (ETHUSD) Analysis
- Ethereum price (ETHUSD) shows slight positive trades, approaching the EMA50 that forms good resistance against the price.
- The stochastic indicator loses its positive momentum to reach the overbought areas.
Therefore, we believe that the chances are valid to resume the bearish trend in the upcoming sessions, with targets beginning by breaking 2905.30$ to open the way for a rally towards 2800.00$, followed by 2625.00$. It's important to note that breaching 3132.80$ will stop the bearish trend and push the price to attempt to regain the main bullish trend again.
The expected trading range for today is between 2880.00$ support and 3130.00$ resistance.
Trend forecast: Bearish
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