Ethereum (ETH) Price Analysis for May 28

Bulls are holding the gained initiative, according to CoinMarketCap’s ranking.

Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) has gained less than Bitcoin (BTC), going up by 0.93%.

Image by TradingView

The last day of the week has started with a price blast for Ethereum (ETH). At the moment, one should pay attention to the recently formed resistance at $1,860.

If closure happens near it, there is a chance to see a breakout followed by a further rise to the $1,880 zone.

Image by TradingView

On the daily time frame, the price of Ethereum (ETH) keeps trading sideways, accumulating power for a further sharp move. A continued rise is only possible if the candle fixes above the important zone of $1,880.

Image by TradingView

On the bigger chart, the price has consolidated above the support level at $1,737. If the situation does not change by the end of the day, one can expect a test of the $2,000 mark by mid-June.

Ethereum is trading at $1,844 at press time.