ETH Price Holds in a Range – May 25
The ongoing trading activities in the ETH/USD market operations have that the crypto-economic price holds in a range zone. It is a situation that shows how indecision is playing out between the two major market movers as price trades around $1,942 at a negative percentage rate of 1.77.
Ethereum (ETH) Statistics:
ETH price now – $1,964.02
ETH market cap – $236.7 billion
ETH circulating supply – 120.9 million
ETH total supply – 120.9 million
Coinmarketcap ranking – #2
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ETH Price Holds in a Range: ETH Market
Resistance levels: $2,250, $2,500, $2,750
Support levels: $1,750, $1,500, $1,250
ETH/USD – Daily Chart
The daily chart reveals the second-largest ranked crypto economy, ETH price holds in a range, trading against the market worth of the US economy below the SMA trend lines. The 14-day SMA indicator is underneath the 50-day SMA indicator. The Stochastic Oscillators are in the overbought region to signify the crypto trade may not have the desirable force weight to push for sustainable ups in the subsequent trading sessions.
Should traders wait for a price action before joining the ETH/USD trade at this moment?
The current trading outlook of the ETH/USD market suggests that traders should wait for price action before joining the trade. However, a downward motion to prevail for some time out of the current-ranging style of the market. If that assumption has to be genuine, long-position takers will have to stay off the business transaction for a while to build up energy at a lower-trading level to there be a breath of life to an upward move later on.
On the downside of the technical analysis, there can be an elongation of a range-trading situation in the ETH/USD price. And that can also allow bulls times to muster up catalyst to face off the pressures been inflicted on it by the US trading currency to push northward back for some recoveries. A breakout around the 14-day SMA trend line is most needed for confirmation to possibly playback into an upside direction. Therefore, it requires patience for that sentiment to play out.
ETH/BTC Price Analysis
In comparison, Ethereum remains to wallow at a deep-shallow trading spot against the trending capacity of Bitcoin. The cryptocurrency pair price holds in a downing motion below the indicators. The 14-day SMA trend line is underneath the 50-day SMA trend line. The Stochastic Oscillators are in the ranges of 20 and 40, seemingly trying to close the lines. Bearish candlesticks have been emerging since yesterday. And the two prove the Oscillators’ tool is lagging in giving a clear downward-returning sign.
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