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Ethereum (ETH) Price Analysis — Remains Under Bullish Pressure Aiming at $230

Price Predictions
Mon, 06/29/2020 - 11:27
Denys Serhiichuk
What level could Ethereum (ETH) bounce back to?
Ethereum (ETH) Price Analysis — Remains Under Bullish Pressure Aiming at $230
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.

While Bitcoin (BTC) and other top coins remain under bearish pressure, prospective altcoins from the top 10 list are not losing time. Mainly, Cardano (ADA) has risen 4.12% over the past 24 hours.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The total market capitalization has lost $2 Bln over the past week and is now at $254.6 Bln.

Market Capitalization
Market Capitalization

The relevant data for Ethereum is below.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $24,980,190,796

  • Price: $223.94

  • Volume (24h): $6,381,546,356

  • Change (24h): 0.36%

The data is relevant at press time.

ETH/USD: Any hope left for growth before the decline continues?

Last Saturday, sellers increased the onslaught and broke through the support of $222.98. At the end of the day, Ethereum (ETH) set a June low at $215.79. On Sunday, buyers continued their recovery accompanied by small volumes but failed to test the two-hour EMA55.

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

Currently, buyers are trying to hold the pair above $222 in order to continue the recovery to the resistance at $233. If the bears sell strong support again, the decline will continue and may soon reach the psychological mark of $200.

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

On the bigger time frame, the current growth will likely continue as bulls have shown resistance at the $217 mark. The trading volume also supports the ongoing bounce back as it has not declined. Moreover, the MACD indicator has entered the bullish zone as its lines have crossed each other. Summing up, the growth could continue to the $227 area where buyers might face bears' resistance.

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

On the daily chart, the lowering heights mean that the leading altcoin has not found its local support yet. What is more, the bearish divergence on the RSI indicator suggests a continued drop to $215. The high concentration of liquidity means that bears will likely retest it soon.

Ethereum is trading at $223.81 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.