$ETH Ethereum Price Prediction

Ether (ETH R$ 14,179) surged above the resistance of US$ 2,111 on May 8 and extended its upward move to nearly US$ 2,550 on May 9.

The long wick on the candlestick indicates strong selling near US$ 2,550. If the price drops from US$ 2,550 but finds support at US$ 2,111, this indicates that the bulls are trying to reverse the level to support. The bulls will then make another attempt to push the ETH/USDT pair above US$ 2,550. If successful, the pair could rise to US$ 2,850.

Sellers will need to pull the price below the level of US$ 2,111 to weaken the bullish momentum. The pair could then drop to the 20-day EMA (US$ 1,867).