8:42 AM · 28 May 2021

Ethereum tests key support

Cryptocurrencies are trading under pressure during the Friday session. Technically looking at the Ethereum chart, the price was unable to break above the $ 2,910 resistance zone about which we wrote about yesterday. It's worth noting, however, that the price hit an important short-term support at $ 2505, which is marked with the lower limit of the 1: 1 structure. If buyers manage to regain control, another attack on the aforementioned resistance at $ 2,910 may be launched. On the other hand, a break lower could lead to a deepening of the recent sell-off towards another support at the $ 2,150.

Ethereum interval H1. Source: xStation5

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