Ethereum Price Analysis for May 16: Moving Up? Ethereum retests resistance at $4,200. On Saturday, the bulls failed to climb above $4000. After several attempts, the price began to fall gradually On Saturday, two lows were set at $3631 and $3663. The minimums were quickly eliminated by the bulls, and now the cryptocurrency is in a new round of growth. At the time of writing, the ETH token is trading at $3,820. This is a good result. The main thing now is to make it above $3840. This level was for the cryptocurrency on Saturday the level of support, and at the moment it's a level of resistance. The Bulls have already tried to cross this line twice, but so far to no avail. If on Sunday, May 16, the bulls manage to break above 3840-4000 dollars, it will open up new prospects. The next psychological resistance level is $4400.     Given that the cryptocurrency is in a strong bullish impulse, it is possible to grow in the next 24 hours. The question is, will the bulls be able to gain a foothold in the area of the new ATH, or the price of cryptocurrency will roll back lower and form support for 4000? Over the past 24 hours, ETH has been trading with average volatility (10%). The daily trading volume shows a decrease of 5.45%. The graph shows that the price reduction was rejected. Therefore, for the next 24 hours we have an optimistic forecast, as well as in the medium and long term. You can follow the price and trade ETH in dozens of currency pairs on the Poloniex exchange. Subscribe to our Telegram, Twitter and Facebook to be the first to know the news of cryptocurrencies! This review is not an advertisement or a recommendation to action, but merely an informational one. The publisher and the author are not responsible for your decisions.