Ethereum (ETH) Daily Price Forecast – June 22

ETH/USD Medium-term Trend: Bullish

Resistance Levels : $495, $500, $505
Support Levels: $480, $475, $470

Yesterday, June 21, price of Ethereum was in a bullish trend. The cryptoasset traded and closed at a price of $525.32. Today, the MACD indicator confirms the bullish trend. The MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of  Ethereum is above the 12-day EMA and the 26-day EMA which indicates that the bullish trend is ongoing.

However, bearish candlesticks had touched the lower band of the Bollinger Bands. The principle is that if price touches the first low of the Bollinger Band,it is a buy signal. Again, if price touches another low of the Bollinger Band, then it is now a confirmation of the buy order. Nevertheless, the relative strength index period 14 is level 45 which indicates that price is in the bullish trend zone.

ETH/USD Short-term Trend: Bearish

In the 1-hour chart, price of Ethereum has a bearish movement. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, 12-day EMA and the 26-day EMA are above the price of Ethereum which indicates that the bearish trend is ongoing

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research

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