Ethereum (ETH/USD) forecast and analysis on June 12, 2019 | ELEVENEWS
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Ethereum (ETH/USD) forecast and analysis on June 12, 2019

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Cryptocurrency Ethereum (ETH/USD) is trading at 244. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Ethereum. At the moment, cryptocurrency quotes are moving the middle border of the Bollinger Bands indicator.

Ethereum (ETH/USD) forecast and analysis on June 12, 2019

As part of the Ethereum course forecast, a test of level 253 is expected. From where we can expect an attempt to continue the fall of ETH/USD and further development of the downward trend. The purpose of this movement is the area near the level of 227. The conservative area for Ethereum sales is located near the upper border of the Bollinger Bands indicator at the level of 255.

Ethereum (ETH/USD) forecast and analysis on June 12, 2019

Cancellation of the option to continue the decline in the rate of Ethereum will be the breakdown of the area of ​​the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair above the area of ​​260. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on June 12, 2019 implies a test level of 253. Further, it is expected to continue falling to the area below the level of 227. The conservative area for selling Ethereum is located area of 255. Canceling the option of falling cryptocurrency will be a breakdown of the level of 260. In this case, we can expect continuation growth.

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Ethereum

Ethereum (ETH/USD) forecast and analysis on June 27, 2019

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Cryptocurrency Ethereum (ETH/USD) is trading at 322. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator.

Ethereum (ETH/USD) forecast and analysis on June 27, 2019

As part of the Ethereum course forecast, a test of level 318 is expected. From where we can expect an attempt to continue the growth of ETH/USD and further development of the upward trend. The purpose of this movement is the area near the level of 350. The conservative area for buying of Ethereum is located near the lower border of the Bollinger Bands indicator strip at level 302.

Ethereum (ETH/USD) forecast and analysis on June 27, 2019

Cancellation of the option to continue the growth rate of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of ​​290. This will indicate a change in the current trend in favor of a bearish for ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on June 27, 2019 implies a test level of 318. Further growth is expected to continue to the area above the level of 350. The conservative area for buying Ethereum is located area of 302. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 290. In this case, we should expect a further fall.

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Ethereum

ETH/USD price analysis: Analysts peg Ethereum as the next coin to outperform major cryptocurrencies

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  • Popular cryptoanalysts believe that those who missed out on Bitcoin should jump on to Ethereum.
  • ETH/USD went up from $333 to $337.50 in the early hours of Thursday.

Analysts believe that investors who can no longer invest in Bitcoin should invest in Ethereum instead. Alunaut, a cryptoanalyst and co-founder of Gamified social trading terminal, Aluna Social, tweeted: “Missed out on $BTC? $ETH is giving you a second chance.”

Another popular crypto enthusiast and analyst, known by the name Bleeding Crypto also has the same stance towards Ethereum. He said, “Look at the historical screenshots and see for yourself that ETH has outperformed BTC in ROI year after year.”

ETH/USD daily chart

ETH/USD has had four bullish sessions in a row and is trending in an upwards channel. The price has gone up from $333 to $337.50 in the early hours of Thursday. The 20-day Bollinger band has widened, indicating increasing market volatility. The latest session has gone above the upper curve of the Bollinger band, showing that the price may be overvalued. The daily price chart is trending above the 200-day simple moving average (SMA 200), SMA 50 and SMA 20 curves.

The moving average convergence/divergence (MACD) indicator shows 11 straight bullish sessions. The Elliot oscillator has had seven straight bullish sessions of increasing intensity. The relative strength index (RSI) indicator is trending in the overbought zone around 77.25.

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Ethereum (ETH) Price Corrects Sharply: Dips Present Buying Opportunity

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  • ETH price surged higher and broke the $340 and $350 resistances against the US Dollar.
  • The price traded to a new 2019 high at $363 before it started a major downside correction.
  • Yesterday’s highlighted major bullish trend line prevented losses with support near $320 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin price surged towards the $14,000 level before correcting below $13,000.

Ethereum price is currently correcting recent gains versus the US Dollar and bitcoin. ETH price is likely to stay above the $320 support and it could bounce back in the near term.

Ethereum Price Analysis

Yesterday, there was a strong rise in bitcoin above $13,000 and $13,500, resulting in bullish moves in Ethereum price against the US Dollar. The ETH/USD pair started a strong upward move and broke the $340 and $350 resistance levels. There was also a close above the $340 level and the 100 hourly simple moving average. The price formed a new 2019 high near $363 before it started a strong downside correction.

The price declined below the $350 and $340 levels. It even spiked below the $325 support level. However, the $320 support acted as a strong buy zone. Moreover, yesterday’s highlighted major bullish trend line prevented losses with support near $320 on the hourly chart of ETH/USD. The pair is currently recovering and it recently climbed above the 23.6% Fib retracement level of the recent decline from the $363 high to $316 swing low.

However, the $340 level is once again acting as a resistance. Moreover, the 50% Fib retracement level of the recent decline from the $363 high to $316 swing low is acting as a resistance. The price is currently moving lower, but there are many supports near the $325 and $320 level. The main support is $320 and 100 hourly simple moving average.

As long as the price is above the $320 support, it is likely to bounce back above $340 in the near term. The next important resistance is at $350, above which the price may even climb towards the last swing high at $363.

Ethereum Price Analysis ETH Chart

Looking at the chart, Ethereum price is clearly correcting recent gains, but it must stay above the $320 level. If the bulls fail to defend the $320 support, there is a risk of a downside break. The next important support is near $316, below which the price may even test the $300 handle.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is currently gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD recovered from the 42 level and it is currently near the 51 level.

Major Support Level – $320

Major Resistance Level – $340

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