ETH technical analysis and ETH price forecast

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Welcome to your daily ETH analysis and ETH price forecast

📊 Dive into daily insights and plan your trading strategies with precision.

Today’s ETHUSD technical analysis and price forecast – May 11, 2024

  • Current Price: $2,905
  • Daily High/Low: $2,935.5 / $2,886.4
  • Current trend for ETHUSD – bearish as long as ETHUSD is below the previous session’s value are low of $2934

Today’s key price levels and highlights for ETHUSD – May 11, 2024 :

  • 📈 The market is still bearish, with the high of the day so far below the middle of the previous daily range.
  • 📉 Bulls can regain control only if price goes over yesterday’s VWAP and a tiny bit more – I suggest the line in the sand as $2968… Above that, there is a bullish shift.
  • 🔍 Indicators: Daily RSI at 38 (slightly oversold), and still trending down (no sign of a rebound yet).
  • Next potential support zones to watch: $2,860-$2,872, the PoC and VAL of 01 May.
  • Lower support for ETH if the above does not hold: $2,765

ETHUSD chart of the Day – May 11, 2024:

📊 ALWAYS TRADE ETH and crypto at your own risk only. Visit ForexLive.com daily to get interesting insights for traders and investors.

This article was written by Itai Levitan at www.forexlive.com.

Go to Forexlive

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