Ethereum price analysis 16 May 2019; ETH holding strong

Ethereum ETH is one of the strongest cryptocurrencies and currently, the supply zones Ethereum price lies at two hundred and seventy-five dollars, two hundred eighty-seven dollar and two hundred and ninety-nine dollars ($275, $287 & $299).

Similarly, the demand zones lie at two hundred and fifty-eight dollars, two hundred and forty-two dollars and two hundred and twenty-seven dollars ($258, $242 & $227) respectively.

In terms of the mid-term outlook, ETH is currently facing a robust bullish momentum. Currently, the Bulls are governing the ETH market.

Presently, the cost of ETH has outdone its projected goal i.e. the Bulls have surpassed the cost further than the anticipation of the dealers.

Ethereum price analysis 16 May 2019; ETH holding strong 2Ethereum ETH price chart created with Trading View

The coins notice a pullback after a firm uptrend but yesterday, the bullish leaning has experienced reliability devoid of the cost retest.

The bullish trend has successfully infiltrated the two hundred and twenty-seven, two hundred and forty-two and two hundred and fifty-eight dollars ($227, $242 & $258) marks and presently, facing two hundred and seventy-five dollars ($275) cost level.

The coin remained to deal beyond the 21 periods EMAs and 50 periods with a growth of distance between ETH cost and EMAs indicating an increase of Bullish momentum in ETH market.

The Stochastic Oscillator period 14 is exceeding 80 levels and the signal lines indicate a significant sell signal.

Ethereum price analysis 16 May 2019; ETH holding strong 3Ethereum ETH price chart created with Trading View

If the Bulls successfully breach the supply zone at two hundred and seventy-five dollars ($275), cost of ETH might experience two hundred and eighty-seven dollars ($287) level.

However, if the Bears preserve the two hundred and seventy-five dollars ($275) level, the cost may recoil to two hundred and fifty-eight to two hundred and forty-two dollars ($258 – $242) level.

On the temporary outlook, the cost of ETH is facing a Bullish momentum. The bulls successfully preserve their drive in the 1-hourly chart of ETH market.

ETH cost steadily upsurges exceeding the two hundred and fifty-eight dollars ($258) level by assembling highs movements to the north. ETH price is boosting promptly towards the north by the Bullish thrust.

Yesterday, the ETH market closed with a bullish candle and opened with a robust bullish candle on the 1-hour chart today indicating that bulls might continue.

The crypto is swapping beyond the two EMAs. The Stochastic Oscillator period 14 is beyond 80 levels indicating a sell signal.

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