Ethereum again testing support at 2850$

Ethereum continues to show weakness even in the month of May. On a monthly basis it marks -3.68% while Bitcoin remains positive. There is currently a gap of 20 percentage points between the 2 on an annual basis, with ETH recording +27.80% and BTC +48%.

On the daily chart we have an overview of ETH's descent from the annual high of $4095. The decline in the trend is very clear, with a series of decreasing highs that has lasted for about the past few months.

Now the price of Ethereum has returned to test the support area at $2850.

To restart, Ethereum has a first short-term resistance level that passes to

3080/100$ . The first resistance then rises - the target of 3300$ , which had already rejected the price. The main resistance for a resumption of the uptrend instead passes $3450/500.