Ethereum Price Analysis – June 27

Fibo Quantum

/latest/2018/06/ethereum-price-analysis-june-27/

Ethereum Price Analysis – June 27

ethereum-price-analysis-june-27

  • The medium-term outlook is ranging while the short-term outlook is bullish
  • Responsible buying at demand areas may be considered

Source: CryptoCompare

Ethereum Medium-term Trend: Ranging

Supply zones: $550, $600, $650

Demand zones: $400, $350, $300

Ethereum is still in consolidation in the medium-term outlook. The bear momentum was high as the cryptocurrency was pushed further down to $426.38. Price made two touches at this demand area which resulted in the formation of a double bottom, a reversal pattern. The bulls are gradually building momentum and price is up, currently above the 12-day EMAs.

The cryptoasset is still trading within $480.00 in the supply area of the upper price range and $420.00 in the demand area of the lower price range. The stochastic oscillator is in the oversold region at 22 percent and its signals point up which implies upward momentum in price movement of the cryptocurrency as the bulls’ pressure increases.

Ethereum short-term Trend: Bullish

Ethereum, ETHUSD, Cryptocurrencies, chartSource: CryptoCompare

Ethereum is in a bullish trend in the short-term outlook. Price is forming higher highs and higher lows that are characteristics of a bullish market. Price is above the two EMAs crossover and the 10-day EMA is seen acting as strong support for bullish pressure.

 

The views and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your own research.