Ethereum (ETHUSD) Price to Continue Its Bullish Rally

Ethereum (ETHUSD) Price Forecast: June 17

The ETHUSD price will most likely continue its bullish rally, as it sparked renewed optimism among investors, despite global market fluctuations, and the coin price could still surge higher. Further increase in the bulls’ pressure may break up at the $2,739.05 level and this may push the price of the cryptocurrency to the $3,438.96 upper high level, resulting in a good buy for coin traders.

Key Levels:
Resistance Levels: $2,500.00 $2,600.00, $2,7000.00
Support Levels: $1,400.00, $1,300.00, $1,200.00

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

ETHUSD remains bullish on the higher time frames. This is clear as we can see the prices trading strongly above the supply trend levels, indicating a strong bullish trend. However, the recent market has favored the bulls.
The coin has been making higher highs and higher lows in previous actions, making it easier for the price to maintain an uptrend.

The Ethereum price trading above the moving averages at the $2,658.71 resistance level as the daily chart opens today is an indication of a more bullish impact in the market.

The ETHUSD pair is trading in a “Rising Channel”, making higher highs and higher lows, showing signs of bullishness. This will enable buyers to influence the price tendency.

Furthermore, the price may continue its upward move as shown by the price indicator pointing in an upward direction.

If the price of Ethereum breaks above the $2,739.05 supply value. Due to this, a price could test its previous swing high and even break above that level to hit the $3,438.96 upper resistance level in its long-term outlook.

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

On the medium-term outlook, the ETHUSD pair also remains in an uptrend. Firstly, the cryptocurrency has broken above the moving averages, indicating a possible rise in the crypto. The pair is currently above the $2,617.20 level.
The bulls increase their pressure and move the market price of the coin to a $2,658.71 high level as the 4-hourly chart opens today. This makes it possible for the coin to remain positive and good for a BUY position.

In addition, the daily stochastic indicates an upward trend, suggesting that the bullish pattern may continue and the target might be the $2,880.00 upper resistance level in its medium-term outlook..

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