Ethereum about to reclaim $1100: Will prices hold here?

Ethereum price analysis
Source: TradingView

Ethereum price analysis for June 23, 2022, comes on a sluggish note for Ether as we have seen a price surge of only 1.5% in the last 24 hours. The world’s 2nd biggest cryptocurrency was able to hold support at $1000 and it seems that investors might witness ETH make an attempt to reclaim $1100 and hold. However, looking at the current figures, the buying volume is not enough to generate higher highs. As per our Ether price analysis for June 22, the token has found a resistance level at $1200 which needs to be reclaimed and turned into support to confirm an uptrend for Ether.

The data from CoinMarketCap shows that the trading volume of the coin surged by 0.04% in the last 24 hours, followed by a 1.32% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.1127, while the Market Dominance dropped to 14.67%.

The daily candle for Ethereum opened at a price of $1050 and reached a daily high of $1110. On the other hand, the daily low for ETH stands at a price of $1045. The price of 1 ETH at the time of writing is $1098.

Ethereum price analysis for June 23 on the daily chart

Ethereum price analysis for June 23, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.

Ethereum price analysis
Source: TradingView

The RSI indicator reads a value below 31 which means that Ethereum is about to break into the bearish region of the RSI line and the gradient of the line suggests that higher prices can be seen.

The MACD indicator shows that the MACD line is now touching the signal line which means that a bullish divergence for Ether might be confirmed soon.

The price action for Ethereum is situated in the lower end of the Bollinger Bands which means that bears are in charge overall.

Conclusion

Ethereum price analysis for June 23, 2022, ends on a sluggish note for Ether with low chances of reclaiming $1100.

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