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Ethereum Price Prediction: ETH/USD Regains Ground But Couldn’t Conquer $230 Level

ETH Price Prediction – June 21

The daily chart reveals that the Ethereum (ETH) is recovering, moving in sync with the market.

ETH/USD Market

Key Levels:

Resistance levels: $260, $265, $270

Support levels: $200, $195, $190

ETHUSD – Daily Chart

ETH/USD may continue to move under the 9-day and 21-day moving averages until it finds resistance at the level of $240. The fact remains that the Ethereum coin may continue to move beneath in as much as the 21-day MA is moving above the 9-day MA. Nonetheless, the price can still rise higher and break above the moving averages if the bulls put more effort.

However, if the sellers continue to add downward pressure to the coin, initial support is expected at $200. Beneath this, support can be found at $195 and $190. On the other hand, if the bulls can defend the $230 level and allow ETH to rebound, an initial resistance is located above the moving averages at $250. Above this, additional resistance is expected at $260, $265 and $270.

More so, the RSI (14) has been falling toward the 45-level which shows that the bearish momentum is still in focus. If the technical indicator manages to remain above the 50-level then the bulls stand a chance to allow Ethereum to rebound at $230. However, if it penetrates beneath, the cryptocurrency may continue a downward spiral.

When compares with Bitcoin, Ethereum pair is experiencing some difficulties, especially in the past few days. The Ethereum (ETH) recently broke under the 9-day and 21-day moving averages and may continue to fall towards the subsequent support of 2400 SAT. The critical support level is found around 2300 SAT and below.

ETHBTC – Daily Chart

However, ETH/BTC remains in a neutral market condition as it managed to rebound higher above the 2438 SAT. However, if it drops back beneath this level, then the market would have to be considered as bearish and the support levels to watch are 2300 SAT and below. To turn bullish, ETH must rise much higher and break above the 2650 SAT level and above.

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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.