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Ethereum Price Prediction: ETH/USD Trading Below $228, Can It Go Any Lower?

ETH Price Prediction – June 30

Ethereum loses more than 0.68% overnight to go as low as $223; the next support may come at $220.

ETH/USD Market

Key Levels:

Resistance levels: $245, $255, $265

Support levels: $205, $195, $185

ETHUSD – Daily Chart

ETH/USDin the global market, with a market capitalization of $25.14 billion, has been moving in a downward trend from the recent high that reached $254 since the beginning of the month. At the time of writing, the ETH/USD is hovering around $226.26. This amount has been fluctuating since the beginning of the day and is 0.68% lower than that of yesterday.

Ethereum price (Find out how to buy Ethereum with PayPal here) had been consolidating over the last four sessions following the steep fall that occurred on June 24. Meanwhile, the coin opened with a downtrend today but currently trading in an upward trend. ETH/USD holds a high possibility of bringing the upsurge in the market, but that might be postponed due to the heavy market bearish pressure.

Furthermore, ETH/USD is still trading within the channel and below the 9-day and 21-day moving averages, but any crossover above the moving averages could take the price to the nearest resistance level of $240. More so, if the bulls can break this level, higher resistance lies at $245, $255, and $265 levels.

However, should the coin drops below the channel; it may continue to show low prices and may likely fall to the support levels of $205, $195, and $18 as the RSI (14) moves below 50-level.

Against Bitcoin, the buy Ethereum price begins to move downward as the price broke down after touching the 2497 SAT in the early hours of today. The price started falling and the RSI (14) indicator nosedives below 52-level, which might be considered as more downtrends for the market.

ETHBTC – Daily Chart

Similarly, the market may continue to decline if the sellers put more pressure on the buyers. Any further movement to the south may likely drag the price to the support levels of 2350 SAT and below. Therefore, if there is a rebound, the Ethereum price may likely go up and cross the channel to hit the resistance level of 2600 SAT 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.