Having grown of more than 13% in 48 hours, Ethereum has been going through a correction since Sunday. In the face of buyers’ hesitation, can we expect further change or is the price of the signal going through a lull before the downward trend continues? Elements of response.
Green week for Ethereum
On June 18, ETH fell below the $ 1,000 symbolic level and a bun annual at 886 USD. Caused by stupor but also obvious buying pressure, the fall in the price of the cryptocurrency was followed by good growth.
In a week, Ethereum is, in fact, won 44.42% and recovered until it reached $ 1279 last Sunday. Its market capitalization has also crossed the $ 150 billion level.
It therefore appears that Ethereum is doing relatively well and, at the same time, Bitcoin is showing half the growth (20.61%). For its part, the market capitalization of the cryptocurrency market recorded a more timid but definite increase.
Towards the end of the bear market for Ethereum?
Since then, ETH has started to correct and, at the time of writing, is trading at $ 1181. Is this a commendable stabilization or an introduction to another decline ?
First, note that ETH presented the first (small) green candle weekly after an 11-week succession in the red. Today opens the lower week for Ethereum. Keep in mind that a trend reversal can be expected from at least two positive weekly closures. This week could be so decisive.
Moreover, in 4 hours, the 1170 dollar level seems to be in its pivot axis at the beginning of the week. On the RSI and MACD side, it looks like it could push to the 1350 dollar level and would be a favorable signal for the continuation of a short – term bullish trend.
Finally, the analysis of Bollinger’s moving averages and bonds, in 4 hours, reveals the potential for an upcoming inflection in Ethereum’s price. On a daily basis, these indicators leave a door open for the ascent case down to the $ 1,600 level.
Crypto-assets are a risky investment.
Levels to watch this week
Excerpt of Ethereum price below $ 1070 this week may indicate that the trend is deteriorating again. On the other hand, if ETH manages to operate until it reaches 1280 or 1420 dollars, it is a safe bet that the cap is set at the key level of 1600 USD.
If the hodler sees the opportunity to top up to the $ 1000 level this week, the larger short – term buyer, who wants to enter the ideal moment, prefers to maintain observer status.
Although it is over bear market still be dochreidte do EthereumThere is no doubt that The Merge’s arrival at the end of the year will prove right for summer investors.
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