#poweredbywordpress, ethereum
Ethereum (ETH) Price Analysis – June 21
The ETH markets are moving in the opposite direction for the past few days. As the ETH/BTC pair significantly dropped to 0.028BTC with current trading around 0.0293BTC; the ETH/USD pair witnessed a notable price increase to around $292 before a slight drop to $285. In overall, the Ethereum market has seen a 6.57% gain in the last 24-hours of trading.
ETH-USD Market
Key Levels: Resistance levels: $300, $310, $320 Support levels: $270, $260, $250
Ethereum has eventually surged above the strong $280 resistance after a few days of positive volatility which led the current price to $292, the last month high. The bullish scenario is clearly pictured on the 4-hours RSI, currently overbought. As ETH trading remains in an ascending channel, a reversal move was signaled on the last 4-hour candle, followed by a bearish candle.
ETHUSD-4H-Chart-June-21
The market may short to $270 support and further break to $260 and $250. Meanwhile, an upward movement may shoot price at $300, meeting the upper channel. A break above the channel could lead the buyers to $310 and $320 resistance. Currently, the 4-hours MACD is still bullish as a more upward movement is expected after a pullback.
ETH-BTC Market
Ethereum has dipped significantly below the 0.03BTC support, now a strong resistance level for the market. June 16 marks a horrible scenario for the token against the Bitcoin pair. After dropping near 0.028BTC yesterday, the market retraced back to the 0.03BTC area – a few hours ago. Currently, Ethereum is on the verge to drop again.
ETHBTC, 4H Chart – June 21
This time, we may be testing the 0.028BTC support and below. The bearish scenario is indicated on the 4-hours MACD as it swings at the lowest condition. Similarly, the 4-hours RSI has retested the 50 level due to the recent positive move. If the bullish pressure continues, Ethereum may hit 0.03BTC resistance and above. But a look at the market structure suggests a downward spiral for the next move.
Please note: insidebitcoins.com 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.
The post Ethereum (ETH) Surges Above The Important $280 As Price Continues to Fall Against BTC appeared first on InsideBitcoins.com.
via https://www.ohnocrypto.com AzeezMustaph, Khareem Sudlow