ETHEREUM PRICE ANALYSIS & PREDICTION (May 31) – ETH Remains Indecisive Amid Latest Drops, Bigger Moves Ahead?

While top altcoins have suffered major losses over the past week, ETH has remained relatively indecisive, trading sideways. However, it has charted a minor loss daily, but remains strong on a monthly scale. Starting the second quarter of the year on a strong note after crashing to a year-low in April, Ethereum recovered briefly above $1,800 and took a break due to a shrink in volatility, which later led to a 15-day squeeze. Following the second week’s surge, which saw the market through its biggest gain during the buying phase, ETH appears highly bullish again and tapped $2,750 as the price broke through a crucial resistance line. A rejection at this level cooled off the buying, and the market pulled back. Since then, the next market move has remained indecisive as the market continues to move sideways on the daily chart. Although it attempted to break higher on Thursday, but failed after rejecting the $2,788 level. It is currently down following a slight loss in the last 48 hours. Despite that, the asset remains in a buying range. A strong recovery above the $2,300 level could bring hope for more bullish rally on the daily chart. Otherwise, Ethereum may revisit $1,900 before regaining momentum. ETH’s Key Level To Watch Source: Tradingview Closing this month neutral-bullish, the key resistance level to watch for a break up is $2,788. A surge above it could rally us through $3,000 to retest the $3,213 level. The next buy target above this level is $3,744. If the price continues to decline, especially below the important $2,320 support, the lower discount price to keep in mind would be the $2,104 and $2,873 support levels, bringing a retest at the broken resistance line. Key Resistance Levels: $2,788, $3,213, $3,744 Key Support Levels: $2,320, $2,104, $1,873 Spot Price: $2,536 Trend: Bullish Volatility: Moderate Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !