Ethereum jumps 2% on the daily candle: How long until we break $1500
Ethereum price analysis for June 28, 2022, comes on a sluggish note as we have seen the Ether token drop 0.55% in the last 24 hours. However, in today’s daily candle, we have seen the token surge by more than 2% while the prices dropped by a similar amount over the weekend. As noted in our Ether price analysis for June 27, 2022, as long as Ether continues to hold prices above $1200 and aims for $1300, the nearest major resistance we can expect the token to break is around the $1500 price region. It will be interesting to see if ETH is able to retain $1200 in the long term.
The data from CoinMarketCap shows that the trading volume of the coin dropped by 1.48% in the last 24 hours, followed by a 1.66% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.08902, while the Market Dominance rose to 15.58%.
The daily candle for Ethereum opened at a price of $1192 and reached a daily high of $1228. On the other hand, the daily low for ETH stands at a price of $1162. The price of 1 ETH at the time of writing is $1226 .
Ethereum price analysis for June 28 on the daily chart
Ethereum price analysis for June 28, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.
Source: TradingView
The RSI indicator reads a value below 41 which means that the Ethereum price action is still overall controlled by the bears but the gradient of the line suggests that higher prices are possible.
The MACD indicator shows that the MACD line remains above the signal line while the MACD histogram for the token remains bullish.
The price action for Ethereum is retesting the middle zone of the Bollinger Bands indicating that a breakout towards the bullish region is possible.
Conclusion
Ethereum price analysis for June 28, 2022, ends on a sluggish note for Ether as the chances of the Ether retaining $1200 remain considerable.
