Ethereum price analysis for June 18, 2022, comes on a bearish note for the token with increased chances of losing the $1000 price region in the near future. Additionally, we also noted in our ETH price analysis for June 17, 2022, that the chances of the token reclaiming the $1100 price region in the near future remain low. Furthermore, Ether has dropped more than 1.7% in the last 24 hours while the world’s 2nd biggest cryptocurrency is nearly 78% low than its all-time high noted in the month of November 2021.
The data from CoinMarketCap shows that the trading volume of the coin dropped by 34.68% in the last 24 hours, followed by a 1.36% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.09617, while the Market Dominance rose to 14.72%.
The daily candle for Ethereum opened at a price of $1086 and reached a daily high of $1097. On the other hand, the daily low for ETH stands at a price of $1076.57. The price of 1 ETH at the time of writing is $1076.01.
Ethereum price analysis for June 18 on the daily chart
Ethereum price analysis for June 18, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.
The RSI indicator reads a value below 22 confirming that the bears are currently in control of the price action and the token remains oversold in the market.
The MACD indicator shows that the MACD line remains below the signal line but the MACD histogram remains bearish for the token indicating that lower prices will follow.
The price action for Ethereum broke out from the lower end of the Bollinger Bands but the Ether token is now coming back within the scope of the Bands.
Conclusion
Ethereum price analysis for June 18, 2022, ends on a bearish note for Ether with considerable chances of losing the $1000 price level.
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