{"id":566866,"date":"2021-05-13T19:08:16","date_gmt":"2021-05-13T16:08:16","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=566866"},"modified":"2021-05-13T19:08:16","modified_gmt":"2021-05-13T16:08:16","slug":"ethereum-eth-could-close-the-month-of-may-between-3-5k-and-6-2k","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/ethereum-eth-could-close-the-month-of-may-between-3-5k-and-6-2k\/","title":{"rendered":"Ethereum (ETH) Could Close the Month of May Between $3.5k and $6.2k"},"content":{"rendered":"<ul>\n<li><strong>Timothy Peterson has forecasted that Ethereum could close the month of May at a value of between $3,500 and $6,200<\/strong><\/li>\n<li><strong>His analysis is based on ETH&#8217;s seasonal trend of performing well in the first half of the year<\/strong><\/li>\n<li><strong>$4.6k is a possible mid-point value for the monthly close with the higher range of $6.2k seeming likely<\/strong><\/li>\n<li><strong>Short-term, ETH has lost $4k after Elon Musk&#8217;s tweet of Tesla no longer accepting BTC<\/strong><\/li>\n<\/ul>\n<p>Bitcoin and crypto analyst, Timothy Peterson, has forecasted that Ethereum could close the month of May at a value of between $3,500 and $6,200. Mr. Peterson&#8217;s price range is based on Ethereum&#8217;s seasonal trend of performing rather well <a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-will-continue-to-outperform-bitcoin-eth-at-4k-possible\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">in the first five months of the year<\/a>.<\/p>\n<p>According to his analysis, Ethereum has a high probability of closing the month of May <a href=\"https:\/\/en.ethereumworldnews.com\/ethereum-could-see-a-new-round-of-growth-to-4-5k-5k-report\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">at the higher end<\/a> of this range. Mr. Peterson shared his analysis of Ethereum&#8217;s price through <a href=\"https:\/\/twitter.com\/nsquaredcrypto\/status\/1391804711121084420\" target=\"_blank\" rel=\"nofollow noopener\" data-schema-attribute=\"\">the following statement<\/a> and accompanying chart.<\/p>\n<blockquote><p><span class=\"r-18u37iz\">Ethereum<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> has strong seasonal trends. Based solely on these historical trends, one could expect <\/span><span class=\"r-18u37iz\">$ETH<\/span><span class=\"css-901oao css-16my406 r-poiln3 r-bcqeeo r-qvutc0\"> to end May 2021 between $3,500 and $6,200, with a midpoint value of $4,600.<\/span><\/p>\n<p>2020 and 2017 were bull years, and since we seem to be in a bull year now, I&#8217;m thinking the higher end of this range is more likely.<\/p><\/blockquote>\n<h2><a href=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May.jpg\"><img class=\"aligncenter size-large wp-image-566868\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-1024x477.jpg\" alt=\"\" width=\"1024\" height=\"477\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-1024x477.jpg 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-300x140.jpg 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-770x359.jpg 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-1536x716.jpg 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-500x233.jpg 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-240x112.jpg 240w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-717x334.jpg 717w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May-1347x628.jpg 1347w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2021\/05\/ETH-6200-End-of-May.jpg 1895w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><\/a>Ethereum Loses $4k After Elon Tweets About Tesla No Longer Accepting Bitcoin<\/h2>\n<p>In the last 24 hours, Ethereum has dipped by 16.67% from $4,200 levels to a local low of $3,500. The pullback was the result of Elon Musk announcing that Tesla would <a href=\"https:\/\/en.ethereumworldnews.com\/justin-sun-tron-is-the-most-energy-efficient-network-for-transactions\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">no longer be accepting Bitcoin<\/a> for car purchases due to the environmental impact of BTC mining.<\/p>\n<p>At the time of writing, Ethereum has somewhat recovered from the dip and is currently trading at $3,766 with the $3,700 price area acting as short-term support. However, chances are that Ethereum revisits the local low of $3,500 as the world digests the Tesla news and realizes that Bitcoin and crypto <a href=\"https:\/\/en.ethereumworldnews.com\/bitcoin-btc-has-a-12-chance-of-exceeding-100k-by-end-of-2021\/\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">will continue to thrive<\/a> regardless of Elon&#8217;s comments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Timothy Peterson has forecasted that Ethereum could close the month of May at a value of between $3,500 and $6,200 His analysis is based on ETH&#8217;s seasonal trend of performing well in the first half of the year $4.6k is a possible mid-point value for the monthly close with the higher range of $6.2k seeming likely Short-term, ETH has lost $4k after Elon Musk&#8217;s tweet of Tesla no longer accepting BTC Bitcoin and crypto analyst, Timothy Peterson, has forecasted that [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":562360,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[823],"tags":[1322,108122,213,5016],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566866"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=566866"}],"version-history":[{"count":0,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/566866\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/562360"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=566866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=566866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=566866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}