Ethereum (ETHUSD) Price Remains Firm above the $2,700 ResistanceZone

Ethereum (ETHUSD) Price Forecast: June 12

The ETHUSD pair is gaining traction and remains firm above the resistance level, signifying a buy signal for the coin holders. Meanwhile, the cryptocurrency anticipates a breakout rally. Therefore, if the bulls’ pressure breaks up the $2,807.99 current resistance level, the coin price may increase further to a $3,500 upper high trend line, reflecting or showing conviction in a robust move.

Key Levels:
Resistance Levels: $2,500 $2,600, $2,7000
Support Levels: $1,444, $1,443, $1,442

ETH (USD) Long-term Trend: Bullish (Daily Chart)

ETHUSD pair could see an increase as it remains strong above the resistance zone on the higher time frames, indicating bullish momentum.
The coin has been making higher highs and higher lows in the previous action which has enabled the coin price to maintain an uptrend.

The Ethereum price finds reliable resistance at around the $2,807.99 level above the EMA line on the daily chart today, resulting in intraday gains. Hence, staying above the resistance trend lines indicates a strong possibility for a bullish correction.

With strong buying pressure and positive market sentiment, the crypto price has the potential to rise further to retest the $3,438.96 barrier as it continues the upward trend, offering a vibrant resistance to the token.

Additionally, the ETHUSD pair may remain on the upside as indicated by the momentum indicator. Thus, the next bulls’ target might be the $3,500 high level in the days ahead, based on the long-term outlook.

ETH (USD) Medium-term Trend: Bullish (4H Chart)

Despite the interference of short-term traders in the price flow, the medium-term time frame market shows a bullish race.
The price of Ethereum is progressing upward above the moving averages, showing that buyers are currently gaining more strength.

The bulls’ activities on the crypto at the $2,689.70 high level in the previous action have led to the coin’s bullishness in its recent high.

Today, the ETHUSD price is rising again on the 4-hourly chart with a bullish candle at a $2,807.99 high mark above the EMA-50 as the bulls brace up for a major uptrend.

Thus, should the bulls change their orientation and increase their buying actions, the coin price may give a bullish breakout above the $2,807.99 prior high before a range breakdown.

However, amid a bullish technical outlook supported by soaring derivatives market activities, there is a possibility of a further increase in the price of Ethereum and this may reach as high as the $3,500 upper resistance level if the buy traders should increase their price actions and all the current support level holds.

As a result, a psychological key level at the $2500.00 supply level might be reached soon in its medium-term time frame.

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