Hello to anyone reading this! I'm going to be writing more of these as a personal practice and reference so that I can become a more thoughtful trader of coins. If this gives you a thought, great!
Ethereum (ETH) is a relatively new cryptocurrency that was released in 2015. It has the second largest market capitalization of all the cryptocurrencies, though it's a distant second to Bitcoin which is 19 times larger.
The main difference between the rival platforms of bitcoin and the etherium lies in their purpose and capabilities. Thanks to the technology of "smart contracts", the etherium allows you to create not only currency, but decentralized applications, which attracts large technology players such as Intel and Microsoft to the project.
Let's carry out the analysis below;
ETH/USD as of 5/31/2018
1 ETH = $ 570.19 +8.69 +1.52% USD 05:01:03 - Real-time Data.
Key Highlights
ETH price is slowly moving higher and is holding the $545 support area against the US Dollar.
There is a key bullish trend line forming with support at $550 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must clear the $575 and $580 resistance levels to gain upside momentum in the near term.
Ethereum price is moving nicely in a positive zone against the US Dollar and Bitcoin. ETH/USD must stay above the $545 and $540 support levels to hold the bullish bias.
http://tribetica.com/index.php/2018/05/31/ethereum-price-analysis-can-eth-usd-break-575/