Technical Analysis for ETHUSD for 27th June 2022
Ethereum Gains 14%, ETH May Rally to $1.7k
Past Performance of ETH
Ethereum is printing higher highs relative to the lower BB. At spot rates, prices are steady in the last trading day and up double digits week-to-date. Technically, ETH prices could rise in subsequent trading sessions, especially if there is a solid close above the middle BB and $1.25k liquidation level.
Ethereum Technical Analysis
From the daily chart, buyers are in control, edging higher in a possible retest. As ETH bottoms up, there must be a solid close above $1.25k and the middle BB with rising trading volumes. Based on the formation in the daily chart, aggressive traders may find loading opportunities on every dip above $1.1k. Any close below $1.1k may pour cold water on the upsides, slowing down buyers. Conversely, any close above $1.25k with an uptick in trading volumes may pump ETH towards $1.7k in the medium term.
What to Expect from ETH
Although prices are inching higher, ETH is technically in a bear breakout formation, provided prices are below $1.25k and the middle BB. A correction below last week's key reaction points will slow down bullish advances.
Resistance level to watch: $1.25k
Support level to watch: $1.1k
Disclaimer: Opinions expressed are not investment advice. Do your research.
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.