$ETH Price Prediction 05/03/2022
Ethereum / U.S. dollar BITSTAMP:ETHUSD
Price held above the intersection of lower support (blue) and next long-term zone (black), however resistance at the yellow line prevented a breakout into the buffer.
As we transition past this intersection look for consolidation to form a triangular pattern with breakout that could occur in either direction.
Based on recent PA + crossover support with 2750 critical, we could bottom out around 2800-2750 into a reversal if all goes well.
I’d still be a bit hesitant on buying in with the assumption that a close into the next long-term zone could initiate further downtrend.
