ETH price analysis and forecast on Thursday (June 21st): ETH price has been able to secure some momentum

Share

The next movement of the ETH (Ethereum) price is still uptrend to the level of $566


Ethereum Coinmarketcaps 21062018

The Ethereum price has made a successful bullish getaway as the cryptocurrency price has ticked up 8% higher than the breakout point, confirming the corrective rally. The next target price of the ETH price is now $566. However, before gearing up the aimed price, the cryptocurrency will experience a narrow-range period.

In the moving average convergence divergence (MACD), a momentum indicator, there appeared the bearish divergence as a lower high existed, in contrast with the establishments of higher lows in the Ethereum price chart. This demonstrates a weaker bullish momentum for ETH price. Still, due to the low volume of the entire cryptocurrency market, it is difficult to conclude that bears have lost control over the market.

As we anticipated, the next movement of the ETH price is still uptrend to the level of $566, then we need to observe the market and the volume in order to forecast the next movement of the market

Trade Suggestion

Buy Limit at $520. Take Profit at $566

Written by nami.today

Share