thread 2/3
Ether price analysis
Eth spiked above USD 3,730 on May 21, and bulls have held the price above the breakout level since then. This demonstrates that bulls are trying to convert the USD 3,730 level into support.
The 20-day EMA (USD 3,452) has started to turn up, and the RSI is in the overbought territory, indicating that the path of least resistance is to the upside. Buyers will try to push the price to the USD 3,950 to 4,100 zone. Sellers are expected to fiercely defend this zone as if bulls prevail, the ETH/USDT pair could skyrocket to USD 4,868.
On the other hand, if bears sink the price below USD 3,730, it will suggest the start of a correction. The pair could drop to the 20-day EMA, which could act as a strong support level. If the price bounces from the 20-day EMA, bulls will make one more attempt to resume the uptrend.
Chainlink price analysis
Chainlink has been trading near the critical resistance level of USD 17.32 for the past three days, indicating a tussle between bulls and bears. The rising 20-day EMA (USD 15.96) and the RSI above 62 suggest that bulls are in command. There is minor resistance at USD 18.68, but if bulls clear this hurdle, the LINK/USDT pair could reach USD 20.74 and subsequently USD 22.
On the contrary, if the pair retreats and sustains below USD 17.32, the market will reject the breakout. The pair could drop to the 20-day EMA and subsequently to the 50-day SMA (USD 14.95).
