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Ethereum (ETH) Price Prediction for May 26

Sun, 26/05/2024 – 15:36

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The last day of the week is more bearish than bullish, according to CoinStats.

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ETH chart by CoinStats

ETH/USD

The price of Ethereum (ETH) has risen by almost 2% over the last day.

Image by TradingView

On the hourly chart, the rate of ETH is looking bullish as it is breaking the local resistance level of $3,816. If buyers can hold the gained initiative, the upward move may continue to the $3,850-$3,900 zone soon.

Image by TradingView

On the daily time frame, one should pay attention to the nearest level of $3,841. If the bar closes above it and with no long wick, the accumulated energy might be enough for an ongoing rise to $3,950.

Image by TradingView

The price of Ethereum (ETH) has almost touched the resistance of $3,993. However, buyers might need more time to accumulate energy for a further rise. In this case, sideways trading in the range of $3,700-$3,900 is the more likely scenario.

Ethereum is trading at $3,820 at press time.

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