Analyst: Ethereum's Recent Decline is a Technical Correction, Expected to Rise Above $3000
BlockBeats reports that on May 18, according to Cointelegraph, market analysts believe that Ethereum's recent decline is a technical correction aimed at retesting key support levels before continuing to rise to $3,000 and higher. Crypto analyst Titan of Crypto stated that the current value of the weekly Stochastic Relative Strength Index (Stochastic RSI) is 79, indicating that ETH "still has momentum to continue upward."
Analyst Chimp of the North stated that Ethereum's downside potential may be limited to $2,400. He also mentioned that Ethereum might continue to correct, retesting the $2,400 support level before rising again, with a target range of $3,000 to $3,300.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A $5 billion single-product emerges? JPMorgan maintains a "Neutral" rating on Amgen (AMGN.US): A good drug doesn't necessarily mean a good buying opportunity.
Amgen's Imdelltra has maintained data with an HR of 0.42, nearly doubling survival time. Morgan Stanley estimates that it will become a single product with annual sales of around 5 billions USD. However, they maintain a Neutral rating and a target price of 350 USD.
Goldman Sachs: Yen Regains "Safe Haven King" Status, Becomes Most Effective Tool to Hedge Against AI Market Shocks
Goldman Sachs stated that the Japanese yen has become a better tool for hedging against AI shocks, with policy shifts reducing the risk of depreciation. The bank recommends shorting USD/JPY and EUR/JPY.
Crypto prices
More
