ETHUSD → Price strengthens and breaks resistance

30 May 2023

ETHUSDT exists within an uptrend bounded by resistance and support. For a long time the cryptocurrency pair was under the pressure of local resistance, which was broken yesterday.

The price breaks MA-50 and on another retest of the resistance the pair breaks through the resistance and exits the range, after which it forms a consolidation above the line.
If the bulls hold the price in the new channel, the coin will begin its strengthening.



The last few days the activity on the market is increasing, and we can assume that it all happens against the background of the economic fundamentals regarding the dollar index.
The moving averages are acting as support. The MA-200 coincides with the lower boundary of this uptrend channel, confirming the support line.

Strong support: 1880, 1846, 1775.
Strong resistance: 1920, 1941, 2021.
I expect that under the pressure of the bullish trend and sentiment, ETHEREUM will continue to 2021 followed by a breakout and strengthening to channel resistance.

Regards R. Linda!