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  • Ethereum loses ground in the afternoon on Friday, as the bulls fails to make ground towards $600.
  • ETH/USD receives support from both 50 and 100MAs on the 60-minute chart.
  • Heavy supply zone seen further north, ranging from $615 up to $628.

 

ETH/USD 60-minute chart:

Spot rate:                                      572.80

Relative change:               -0.75%

High:                                                       590.00                      

Low:                                                       565.00

 

Trend:                                                   Bearish

 

 

Resistance 1:                           590.00, today’s (Friday) high and 27th May.

Resistance 2:                           609.00, 26th May.

Resistance 3:                           615.00, supply zone.

Support 1:                                   580.00, descending trend line.

Support 2:                                     565.00, today’s (Friday) low & 50/200MAs.

Support 3:                                     541.00, 30th May low.