Ethereum
Ethereum (ETH) Price Prediction for May 3
Denys Serhiichuk
Does Ethereum (ETH) Price Have Enough Strength to Rebound?
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The cryptocurrency market is bouncingaccording to CoinMarketCap.
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ETH/USD
The Ethereum (ETH) rate increased by 1.38% in the last 24 hours.
Image of Trading View
On the hourly chart, ETH price broke the local resistance level of $3,015. If the daily bar closes above, the bullish movement could continue up to the $3,100 zone this weekend.
Image of Trading View
On a longer time frame, the rate of the leading altcoin continues to rise after a false breakout of the $2,852 support level.
If the candle closes above yesterday’s high without a long wick, the growth could soon lead to a test of the $3,100-$3,150 zone.
Image of Trading View
From a medium-term perspective, it is worth paying attention to the weekly candle close. If the price falls far from $2,900, buyers could take the initiative, which could lead to a rebound up to $3,200.
Ethereum is trading at $3,043 at press time.
About the Author
Denys Serhiichuk
With over 5 years of experience in trading, Denys has in-depth knowledge of technical and fundamental market analysis. He mainly started his blog on TradingView, where he posts all the relevant information and makes predictions about major coins.
Thus, his experience is enhanced by his work in leading blockchain-related companies such as W12, Platinum Listing, ATB Coin and others, which can be contacted at denys.serhiichuk@u.today.