Numero
2022-06-18

Ethereum Reverses Trend, Price Remains at Risk  

> Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is declining and remains at a risk of more downsides below the $1,000 support.

Ethereum started a fresh decline after it failed to surpass the $1,250 zone. The price is now trading below $1,200 and the 100 hourly simple moving average.

There is a connecting bearish trend line forming with resistance near $1,095 on the hourly chart. The pair could resume its decline unless it clears $1,150 and $1,200 in the near term.

A clear move above the $1,200 resistance zone may perhaps start a decent upward move. The next major resistance is near the $1,260 level. Any more gains could start a move towards the $1,350 resistance.

If ethereum fails to rise above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,050 zone.

The next major support is near the $1,000 zone. A clear move and break below the $1,000 zone could start a major decline. In the stated case, the price could slide towards the $880 support zone in the near term.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • JC888
    2022-06-18
    JC888
    Doesn't ETH price moves in tandem with BTC? BTC is still falling. Can share why u expect ETH to be otherwise?
    • Numero
      See BTC, June 14:
      > https://ttm.financial/m/post/9052243046?utm_campaign=9052243046&utm_source=post&invite=dc9009&lang=en_US&platform=iOS&shareID=c0069c4f4652477a604efc65079399ba&utm_medium=copy
    • Numero
      Read para 1: “> Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is declining and remains at a risk of more downsides below the $1,000 support.” + See June 14 post on BTC.
    • TK63
      ok
  • Maria_yy
    2022-06-19
    Maria_yy
    Nice post, I will share it with others.
  • Jaden1995
    2022-06-18
    Jaden1995
    btc will move 1st then eth
  • Nicholas854
    2022-06-18
    Nicholas854
    thank for thank for sharing
  • AnT
    2022-06-18
    AnT
    no no no
  • Visionaire91
    2022-06-18
    Visionaire91
    Bj d
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