Ethereum finally breaks above $1200: Outperforms BTC

Ethereum price analysis
Source: TradingView

Ethereum price analysis for June 25, 2022, comes on a bullish note for the world’s 2nd biggest cryptocurrency as Ether dominated Bitcoin and outperforms the world’s biggest cryptocurrency which is stuck at the $21K price region, as per our BTC price analysis for June 25, 2022. Additionally, as noted in our Ether price analysis for June 24, 2022, the Ether token found increased resistance at the $1200 price region which the ETH token failed to break past a number of times. However, in the last 24 hours, we saw Ether retain $1100 and reclaim the $1200 price region.

The data from CoinMarketCap shows that the trading volume of the coin surged by 12.23% in the last 24 hours, followed by a 5.26% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.1125, while the Market Dominance rose to 15.46%.

The daily candle for Ethereum opened at a price of $1225 and reached a daily high of $1227. On the other hand, the daily low for ETH stands at a price of $1204. The price of 1 ETH at the time of writing is $1214.

Ethereum price analysis for June 25 on the daily chart

Ethereum price analysis for June 25, 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 39 which means that Ethereum is still in control of the bears and the gradient of the line suggests sluggish movement.

The MACD indicator shows that the MACD line has broken above the signal line and the MACD histogram remains bullish for the Ether token.

The price action for Ethereum is situated in the lower end of the Bollinger Bands but a retest of the middle zone of the zone seems likely.

Conclusion

Ethereum price analysis for June 25, 2022, ends on a bullish note for Ether with high chances of holding above $1200.

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