Search Inside Bitcoins

Ethereum Bounced Back Above $250, RSI Turns Positive – Bullish Sign

Join Our Telegram channel to stay up to date on breaking news coverage

Ethereum (ETH) Price Analysis – June 14

While Bitcoin’s price spikes, Ethereum has begun to drop as price heads towards the 0.03BTC. Despite the bearish scenario, ETH has managed to stay above the $250 against the Dollar. If Bitcoin can remain stable for a while, we may see an interesting performance in the Ethereum markets.

ETH-USD Market

Key Levels:
Resistance levels: $270, $280
Support levels: $240, $230

Ethereum price bounced after establishing a weekly low at $223 area on Monday, rising to $264 before the retracing to the $250, where the lower wedge lies. Now, ETH is back above the $250 with a possible new high which is likely at $270 resistance. Above the mentioned price, further support can be met at $280 and $290.

ETHUSD, 4H Chart – June 14

Looking at the 4-hours RSI indicator, the 50 level is acting as a support for the market. If the bulls act upon this level, the price may hit the mentioned resistance. However, the market may as well slide to the $240, $233 and $223 if the bears step into the market. On the 4-hours Stochastic RSI, Ethereum is at the oversold condition.

ETH-BTC Market

Against Bitcoin, the last 24-hour has appeared to be bearish for Ethereum as the market experiences a drop from 0.032BTC area, approaching 0.03BTC support. In fact, the 4-hours RSI has simultaneously fallen near the oversold region. Meanwhile, the 4-hours Stochastic RSI is revealed convincingly at the oversold territory, a strong bearish confirmation.


If the price is rejected at the 0.03BTC, the bulls might push the market back to the 00.032BTC at the upper channel. If a breakout occurs, we can expect an immediate resistance at 0.033BTC and 0.035BTC, from above. Below the channel, the key supports lie at 0.028BTC and 0.025BTC.

Please note: is not a financial advisor. Do your own research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Join Our Telegram channel to stay up to date on breaking news coverage

Read next