This website uses cookies to ensure you get the best experience on our website

Technical Analysis for ETHBTC for 7th June 2022

ETHBTC Slides 22%, ETH Finds Support at 0.059 BTC

Past Performance of ETHBTC

Bitcoin bulls are rampant. ETH is down 22 percent from April 2022 highs versus BTC. From the ETHBTC daily charts, Ethereum is still under pressure and in a bear breakout formation despite ETH gains in the Asaian session. Currently, ETHBTC is trending at around October 2021 lows. Since bear bars are aligned with the lower BB, ETH sellers may search to unload on every attempt to print higher.

ETHBTC Technical Analysis

BTC bulls are in control, and bars are banding along the lower BB despite recent ETH gains. This points to intense selling pressure and possibly BTC bulls adding to their longs. As ETHBTC retests October 2021 lows, traders should look to double down and accumulate BTC. There could be more losses for ETH if prices drop and close below 0.059 BTC in confirmation of June 6 dumps. Such a move would confirm the bear breakout of May 26 and may trigger more losses versus ETH, pushing prices back to 0.057 BTC and 0.055 BTC in the medium term.

What to Expect from ETHBTC

After solid ETH gains in 2021, BTC bulls are rewinding losses, as evident in the daily chart. In a bearish breakout formation, ETH may drop to H2 2021 lows in the medium term if prices slide below the immediate support line.

Resistance level to watch: 0.061 BTC

Support level to watch: 0.059 BTC

Disclaimer: Opinions expressed are not investment advice. Do your research.

For more interesting tips and facts visit our Education Centre.

Have Questions? 

We're available 24/7 to help you. You can email us, or send us a message on WhatsApp, Telegram or Messenger!

Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020