Ethereum Price Prediction: ETH/USD Downturns Value at $2,500

Downturns Value – June 19
Business activity that exists between Ethereum and the US fiat currency now downturns value at the recent range trading line of $2,500 to trade around $2,243 as of writing. The crypto’s price rate is seen at about a 0.43 percent increase.

Downturns Value: ETH Market
Key Levels:
Resistance levels: $2,500, $3,000, $3,500
Support levels: $2,000, $1,800, $1,600

ETH/USD – Daily Chart
It is apparent that the ETH/USD now downturns value at the point of $2,500. On the ETH/USD daily chart, it is revealed that all the trading indicators are placed above the current trading zone of the crypto economy. On June 15, price got resisted on the sell signal side of the smaller SMA’s trend-line and, that eventually led to slightly breaking past the bigger SMA to the downside. The 14-day SMA is closely located above the 50-day SMA as they are both found around the level earlier mentioned pointing toward the east to still suggest that the market trades in a ranging style until the present. The Stochastic Oscillators are freshly dipped into the oversold region in an attempt to close the lines. That could that price may soon hit support to signal a return of an upward move.


Could there still be more reductions as the ETH/USD market downturns value?

As regards the kind of trending outlook that the ETH/USD market operations have kept until now, price downturns value to get into lower range trading zones of in between $2,500 and $2,000. As a result of that, the positioning of a buy order may now have to feature around the smaller level. A decent buy entry could as well be achieved while the market latterly pushes a bit lower around the lower range point for an upward reversal motion.

On the downside of this market technical analysis, and eventual interception of the bigger SMA from the top by the 14-day SMA will be a signal denoting that the crypto may liable to get a sit below the current upper range spot of $2,500 in most of its downward motions. Being as it is, an indicator exhibiting the trending capability at different trading levels has suggested that in the near session, there will be a probable end to the present downturn of values.

ETH/BTC Price Analysis

Comparing the trending weight between Ethereum and Bitcoin, yet, the base crypto appears to possess a higher level as paired with flagship counter crypto. It is also closely observed that ETH downturns value on a very tighter note as being placed with BTC. The bullish trend-line drew closely above the 50-day SMA as the 14-day SMA trend-line is located over them. The Stochastic Oscillators are in the oversold region with conjoined lines consolidating in it. That signifies that indecision is somewhat playing out between the two cryptos as of writing.


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Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.