Ethereum Price Forecast – ETH Violates Double Top Resistance, Brace for Buying

The cryptocurrency space became a little more interconnected after developers created a cross-chain bridge between the Ethereum and Tezos blockchains. Following the launch of the Wrap Protocol, created by Bender Labs, Ethereum based ERC-20, and ERC-721 tokens can be made Tezos-compatible, allowing Ether holders to interact with the Tezos ecosystem. Furthermore, on April 24, Polygon’s COO Sandeep Nailwal launched a crypto campaign relief for India. The relief is believed to provide help to the country that is reeling under the latest wave of the coronavirus crisis. Ethereum co-founder Vitalik Buterin donated about $600,000 to the relief campaign and many other prominent people of the crypto world joined in as well.

Support Resistance
2249.74 2353.87
2180.32 2388.58
2145.61 2458.00
Pivot Point: 2284.45

The ETH/USD pair is trading with a dramatic bullish bias at 2,481 level. It has violated the triangle pattern that was extending resistance at 2,393 level on the two-hour timeframe. On the higher side, the formation of bullish engulfing candles can open buying trend until the 2,647 level. The EMA and RSI are supporting a solid bullish trend in Ethereum. The idea today is to take a buy position over 2,400 levels to target 2,647 levels. Good luck!