Ethereum ETHUSDT Price Analysis (1d)
ETHUSDT has seen a positive turn in recent days, bouncing back from the strong support level at 1650-1,700 on June 15. The price is currently ticking up at $1,880, indicating strong buying activity at this level.
On the daily chart of ETH, we can observe that the bulls have been consistently making purchases. Their efforts paid off on June 20 when the price surpassed the 20-day EMA ($1,781), signaling a weakening grip of the bears.
The bullish momentum continued on June 21, propelling the ETH/USDT pair above the downtrend line. As a result, we can anticipate a potential rally towards the psychological resistance level at $2,000.
MACD currently sits in neutral zone, but RSI shows hidden bullish divergence.
However, it's important to consider the possibility of a reversal from the current price level. If ETH turns downward and falls below the 20-day EMA, it would suggest that the bears still maintain control. In such a scenario, the pair could experience a dip towards the support level at $1,700.
Stay tuned for further developments and keep an eye on the ETH market
On the daily chart of ETH, we can observe that the bulls have been consistently making purchases. Their efforts paid off on June 20 when the price surpassed the 20-day EMA ($1,781), signaling a weakening grip of the bears.
The bullish momentum continued on June 21, propelling the ETH/USDT pair above the downtrend line. As a result, we can anticipate a potential rally towards the psychological resistance level at $2,000.
MACD currently sits in neutral zone, but RSI shows hidden bullish divergence.
However, it's important to consider the possibility of a reversal from the current price level. If ETH turns downward and falls below the 20-day EMA, it would suggest that the bears still maintain control. In such a scenario, the pair could experience a dip towards the support level at $1,700.
Stay tuned for further developments and keep an eye on the ETH market
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