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Ethereum (ETH) Price Analysis — $250 Still Attainable in June?

Price Predictions
Fri, 06/05/2020 - 08:18
Denys Serhiichuk
Are there any chances left for Ethereum (ETH) to grow in June?
Ethereum (ETH) Price Analysis — $250 Still Attainable in June?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

June 5 has started for the cryptocurrency market in a relatively neutral mood. Most of the coins are in the red zone. However, there are some exceptions. Bitcoin (BTC) and Binance Coin (BNB) are the main gainers, having risen by 1.31% and 1.36% respectively over the past 24 hours.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

Even though the cryptocurrency market has not shown significant growth over the past day, its overall capitalization index has increased by 1$ Bln since yesterday.

Market capitalization
Market capitalization

The relevant data for Ethereum is as follows.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $27,238,960,852

  • Price: $244.91

  • Volume (24h): $9,840,184,917

  • Change (24h): -0.12%

The data is relevant at press time.

ETH/USD: Can the spectacular rise continue?

Yesterday morning, growth stopped in the area of $247. After a short rollback, the price recovery resumed, but as of this morning, buyers have not overcome the resistance.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

At medium trading volumes, Ethereum (ETH) moved to consolidation, with support at the two-hour EMA55 level. Now the consolidation range has slightly narrowed, and today buyers might have enough strength to break through the resistance at $247 and continue growing to the $265 - $275 zone this weekend.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4H time frame, Ethereum (ETH) is about to form a Head and Shoulders pattern. This is the reversal figure in trading, suggesting a trend change.

Related TOP 3 Price Analysis: BTC, ETH, XRP — Will Market Keep Growing After Such a Pump?
Related
TOP 3 Price Analysis: BTC, ETH, XRP — Will Market Keep Growing After Such a Pump?

The declining level of trading volume also suggests further price decline. If the leading altcoin keeps falling, the closest stop will be in the area of the Right shoulder at $235.70.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the bigger chart, Ethereum (ETH) has stopped its sharp growth. At the moment, there are signals for neither a continued rise nor the start of a fall. There is no liquidity at the current trading zone. However, the volume remains at the same level. A more likely outcome would be holding in the range between $230 and $245 as is outlined on the chart.

Ethereum is trading at $243.67 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

Price Predictions
Tue, 07/07/2020 - 10:22
Denys Serhiichuk
Will Ethereum (ETH) get to $240 in the ongoing growth?
Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The positive mood remains on the cryptocurrency market. While Bitcoin (BTC) is rising slightly, altcoins are outperforming the leading crypto. The top gainer from the 10 most popular coins is Bitcoin SV (BSV), whose rate has risen 14.34% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has also increased against the rise of the market. At the moment, its index is $265.3 Bln.

Market Capitalization
Market Capitalization

The relevant data for Ethereum is below.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $26,416,726,830

  • Price: $236.59

  • Volume (24h): $8,170,001,858

  • Change (24h): 1.61%

The data is relevant at press time.

ETH/USD: Is the rise coming to an end?

The price of Ethereum (ETH) showed steady growth yesterday. During the day, the pair broke through the resistance at $233 and tested the POC line ($243.34) late at night. In the Asian session, growth stopped and the price rolled back to $240.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

If the bears strengthen the onslaught, then they can return the pair to $233. On the other hand, on the daily time frame, the Stoch RSI indicator lines have not yet reached the overbought zone and there is still some potential for growth. Overall, after a short pause, bulls might try to test the resistance at $247.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4H chart, Ethereum (ETH) is forming a Triangle pattern. The decline is supported by the rising trading volume which means that there is still space for going deeper. In this case, the first stop might be at the zone around $232 where most of the liquidity is concentrated. This scenario may unfold within days.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the bigger time frame, the growth potential remains, despite the highs becoming lower and lower. The bullish trend since March 2020 has not been broken so far, which means bulls may still set new local peaks. Such a statement is confirmed by the rising channel, which has continued since the end of June. If bulls keep pushing the altcoin higher, traders can expect Ethereum (ETH) to trade around $245 by the end of July.

Ethereum is trading at $235.65 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.