ETH technical analysis and ETH price forecast

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Today’s ETHUSD technical analysis and price forecast – May 11, 2024

• Current Price: $2,905
• Daily High/Low: $2,935.5 / $2,886.4
• Current trend for ETHUSD – bearish as long as ETHUSD is below the previous session’s value are low of $2934

Today’s key price levels and highlights for ETHUSD – May 11, 2024 :

• 📈 The market is still bearish, with the high of the day so far below the middle of the previous daily range.
• 📉 Bulls can regain control only if price goes over yesterday’s VWAP and a tiny bit more – I suggest the line in the sand as $2968… Above that, there is a bullish shift.
• 🔍 Indicators: Daily RSI at 38 (slightly oversold), and still trending down (no sign of a rebound yet).
• Next potential support zones to watch: $2,860-$2,872, the PoC and VAL of 01 May.
• Lower support for ETH if the above does not hold: $2,765

ETHUSD chart of the Day – May 11, 2024:

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This article was written by Itai Levitan at www.forexlive.com.