Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send a Sats as a tip to a writer. Each and every one of our writers has an active tipping widget.

  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Ethereum Price and Technical Market Analysis May 28th, 2020

written by

Ethereum Price and Technical Market Analysis May 28th, 2020

Support free journalists: > send a tip

  • Buyers fixed above the mark $206.
  • After breaking the mark $216, buyers claim for the test of $250.
  • Volumeless attempts to fix above $216 will lead to activization of sellers and test of $196.

During the previous two days in Ethereum market, buyers defended their right to continue to grow. Keeping the global trend line on 26 May, buyers managed to start a sharp counterattack. As a result, the growth of Ethereum price for the previous two days was almost 6%. Buyers managed to fix above the local mark $206, which we wrote about in previous analyzes. Consequently, today buyers are trying to conquer the last critical point, which has already sent the price for correction three times. This is a mark $216.

Trading volumes during the previous two days in Ethereum market remain average. So, buyers need a boost, without which sellers will again be able to test the mark $196. During the previous two days, market purchases were bigger than market sales. However, on 26 May, during the dominance of sellers, market purchases were 50.1%, and during the activity of buyers on 27 May, they were 57.8%.

In terms of horizontal volumes, we see that the first local liquidity zone above $216 is concentrated in the mark $225. Fixing above this mark will be an additional signal to continue to grow to our first target $250.

In the 4-hour timeframe, it is clearly visible how after Ethereum price fixing above the mark $206, buyers sharply continue to grow:

Ethereum Price and Technical Market Analysis May 28th, 2020

Looking at the closure of the last 4-hour candle, buyers intend to confidently continue to grow. So far, sellers are not offering the necessary resistance, except a slight slowdown in growth. Therefore, the end of the working week in Ethereum market is planned for the benefit of buyers.

In the chart of Ethereum dominance, we see a continuation of the consolidation indicator near the mark 9.22%:

Ethereum Price and Technical Market Analysis May 28th, 2020

If the active growth of BTC continues – the strength for a confident growth of Ethereum price won’t remain and the consolidation may continue around $216. In this case, the scenario of $216 retest will work out. So, let’s see how strong ETH buyers remain during the attack of $216.

According to the wave analysis in Ethereum market, buyers continue to form a wave (V), which in turn should complete the global wave (Y):

Ethereum Price and Technical Market Analysis May 28th, 2020

From this point, the correction of the growth wave may begin from 13 March, so we will closely monitor the price in the range $250-270. We will meet on Saturday and summarize the trading in the market and the probable scenario of Ethereum price movements next week. is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow on Twitter: @bitcoinnewscom
Telegram Alerts from

Image Courtesy: TradingView

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter