#squarecreator - Prediction of the price of Ether, shot up from USD 1,808 on May 8 to USD 2,600 on May 10, indicating aggressive buying by the bulls, the price retraces from the upper zone, the 20-day EMA will likely act as strong support.
$ETH - A bounce from the 20-day EMA signals that the bullish momentum remains intact. This increases the chances of a breakout above USD 109,588.
Sellers will have to push the price below USD 100,000 to weaken the positive momentum. That opens the door to a drop to USD 93,000 and subsequently to USD 83,000.
The bullish movement pushed the RSI into overbought territory, indicating that a minor pullback or consolidation in the short term is possible. The first support to the downside is USD 2,320 and then USD 2,111. If the price rises from the support levels, the ETH/USDT pair could extend the rally to USD 2,850 and later to USD 3,000.
The optimistic view will be invalidated in the short term if the price falls below USD 2,111. This could result in a range formation between USD 1,754 and USD 2,600.