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    Home » ETH » Ethereum Price Analysis June.11 – ETH Retraces From Resistance At $250

    Ethereum Price Analysis June.11 – ETH Retraces From Resistance At $250

    Author: Yaz Sheikh

    Last Updated Dec 18, 2019 @ 14:21

    Ethereum has fallen by a small 1.50% over the past 24 hours, causing the asset to drop toward the $239.20 level. ETH recently rebounded from support around $226 but was unable to break above the $250 resistance level, leading to the mentioned price fall.

    Despite recent price declines – Ethereum is still up by a total of 27% over the past 30 days, with a further 80% price surge over the past 90 trading days. Ethereum remains ranked in 2nd place on CoinMarketCap as it presently holds a $25.66 billion market cap value at press time. 

    Looking at the ETH/USD 1-Day Chart:

    • Since our previous ETH/USD analysis, we can see Ethereum went on to drop beneath support at $240 but found further support at $225 where it saw a rebound. Ethereum has recently turned away from $250 where it faced resistance.
    • From above; The nearest level of resistance now lies at $250. Above this, higher resistance is located at $271, $279 and $298. If the bulls continue above $300, higher resistance exists at $315, $334 and $350.
    • From below: The nearest level of support now sits at $235. Beneath this, further support is located at $226, $220, $213 and $201. If selling continues beneath $200, strong support can be located at $194.
    • The Stochastic RSI currently trades in extreme oversold conditions as we wait for a bullish crossover signal above. The RSI has recently broken beneath the 50-level to show that sellers are in control of current momentum.

    ethusd_jun11-min

    Looking at the ETH/BTC 1-Day Chart:

    • Against Bitcoin, we can see ETH has done extremely well holding support at the 0.03 BTC level. The asset, however, is really struggling in making any amount of movement higher.
    • From above: The nearest level of resistance lies at 0.031 BTC and 0.03185 BTC. Above this, higher resistance exists at 0.032 BTC, 0.03316 BTC and 0.034 BTC.
    • From below: The nearest level of support sits at 0.030 BTC. Beneath this, further support lies at 0.02979 BTC, 0.02918 BTC, 0.0285 BTC and 0.02818 BTC.
    • The trading volume remains at roughly the average level for ETH/BTC/
    • The Stochastic RSI recently delivered a bullish crossover signal which indicates a potential move higher.

    ethbtc_jun11-min

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    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Ethereum (ETH) Price
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    About The Author

    Yaz Sheikh
    More posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

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