Ethereum Pushes above $1,200 Resistance, May Rally to $1,700 High
Login

Ethereum Pushes above $1,200 Resistance, May Rally to $1,700 High

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Ethereum ETH) Current Statistics
The current price: $1,159.93
Market Capitalization: $140,426,191,751
Trading Volume: $14,546,961,956
Major supply zones: $2,500, $3,000, $3,500
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis June 23, 2022
Ethereum’s (ETH) price is in a downtrend but may rally to $1,700 high. It has recovered above the $1,000 psychological price level. Since June 21, buyers have failed to break above the $1,200 resistance zone. At the previous price, action Ether was repelled at $1,191high. Today, buyers are pushing the coin to the $1,200 resistance zone. Ethereum will rally to a $1,700 high if the bulls break above the resistance at $1,200. On the other hand, if the bears break below the current support, The market will decline to the previous low of $881.

Ethereum Pushes above $1,200 Resistance, May Rally to $1,700 High
ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 58 of the Relative Strength Index for period 14. The coin is in the bullish trend zone and capable of further upward of the altcoin. Ether’s price bars are far below the moving averages indicating a further decline. It is below the 20% range of the daily stochastic. The market is reaching the oversold region of the market.

Conclusion
Ethereum is still in a downward correction but may rally to $1,700 high. Meanwhile, on a weekly chart; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that ETH will fall to level 1.618 Fibonacci extension or $864.69. From the price action, the coin has retested the Fibonacci extension and resumed upward.

Ethereum Pushes above $1,200 Resistance, May Rally to $1,700 High
ETH/USD – Weekly Chart

You can purchase crypto coins here. Buy LBlock


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News