Ethereum

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
A further market decline can be postponed, according to <a href="https://u.today/binance-coin-bnb-price-prediction-for-may-15" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img src="https://u.today/sites/default/files/inline-images/top10_1118.png">Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a>
<h2 class="text-align-justify" id="eth-usd">ETH/USD</h2>
The price of Ethereum (ETH) has risen by 0.83% since yesterday. <img src="https://u.today/sites/default/files/inline-images/etj1_0.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSDT" rel="noopener noreferrer nofollow">TradingView</a>
Despite today's growth, the rate of ETH is looking bearish on the hourly chart. If the daily bar closes below the local support level of $2,973, bears may again seize the initiative, which can lead to a drop to the $2,900 zone. <img src="https://u.today/sites/default/files/inline-images/eth2_125.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSDT" rel="noopener noreferrer nofollow">TradingView</a>
Bulls could not keep the rise going after yesterday's bullish closure. If the situation does not change by the end of the day, there is a chance to see a test of the support of $2,852 until the end of the week. <img src="https://u.today/sites/default/files/inline-images/eth3_114.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSDT" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, none of the sides is dominating as the price is far from the main levels.&nbsp;
However, if buyers lose the $2,900 zone, the accumulated energy might be enough for a breakout, followed by a move to the $2,600-$2,700 range.
Ethereum is trading at $2,957 at press time.

Ethereum (ETH) Price Prediction for May 16

Table of Contents

U.Today

Other articles published on May 16, 2024

Join our free newsletter for daily crypto updates!