Key Highlights
- Ethereum bulls attempt to breach $250 resistance
- Failure of the bulls to break the $250 resistance may result in a decline of the coin
Ethereum (ETH) Current Statistics
- The current price: $246.31
- Market Capitalization: $27,414,628,379
- Trading Volume: $9,200,266,892
- Major Resistance Zones: $175, $200, $225
- Major Support Zones: $125, $100, $75
Ethereum (ETH) Price Analysis June 11, 2020
Ethereum’s bulls have been consistent and faithful above the $240 support level. Price has been corrected upward after the last breakdown that sank ETH to $225 low. Following the correction above $240, the market has been relatively stable. Today, ETH is rising and approaching the $250 high. In the meantime, the ultimate price action is to break the $250 resistance.
Ether will move up to $280 high once the bulls are successful above the $250 resistance. Besides, the biggest altcoins would have fully recovered from the bear market. Nonetheless, if the bulls fail to break the $250 resistance, the crypto will be compelled to a sideways move. In other words, the coin will be in a range-bound move between $230 and $245.
Ethereum Technical Indicators Reading
Ethereum is still above 80% range above the daily stochastic. The stochastic bands are horizontally flat in the overbought region. There is an indication that Ether will fall if sellers emerge in the overbought region. From the price action, there is a likelihood that ETH will decline if the bulls fail to break the $250 overhead resistance. A break below $240 support will signal the downtrend. A downward move to $230 and subsequently to $200 is expected.
