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Ethereum Price Analysis, 24th June: ETH Bulls in Force

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Azeez Mustapha
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

ETHUSD Dominant Trend: Bullish

Resistance Levels: $300, $305, $310

Support Levels: $275, $270, $265

 

Ethereum Price Analysis

Ethereum price has experienced a historic growth in the last two days after a long wait for anticipation and slow trends, but now the coin is unstoppable and could be negotiated above $330 in the coming days. The holders of Ethereum take advantage of this moment to celebrate the new growth and success trends, and the second half will only improve. The current performance of the ETH token is just a better look at the future. In the last day, the value of the coin increased by more than 6.6%, from $294.19 to $306.12.76 from June 23, 2019. Immediately after the opening of the market, Ethereum price began to fall and lower the $306 mark yesterday to trade down and go bearish, since then ETH has shown a downward trend for some time and has remained afloat between $306 and $300 for quite some time.

ETH to USD Price Chart 24th June
ETH to USD Price Chart 24th June

Also, this week could start with a lower note at the end of the month and the following month; Ethereum price may bounce to resistance levels of up to $330, $305 and $310. At present, Ethereum price is moving towards the support of $275 and may experience a slight decline in the near future. In addition, there is an important ascending channel with support close to $275 on the 4-hour ETH/USD chart. If the sale continues below $275, the following important support levels will be $270 and $265 respectively. Looking at the 4-hour chart, we can see that RSI 14 is recovering from the overbought zone at level 60 when the RSI stochastic indicator is about to enter the oversold territory. At the time of writing this report, the market is still consolidating and this could probably give the bulls a chance to regain sufficient momentum and resume their uptrend.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

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