Ethereum once again aims for $1800: Where do we go from here?
Ethereum price analysis for June 10, 2022, comes on a bearish note for the token as the world’s 2nd biggest cryptocurrency has dropped 3.39% in the last 24 hours. Furthermore, it is imperative to note that the token has been holding above the $1700 price region in the last 24 hours and we can expect this price region to hold support here. Furthermore, the ETH price analysis for June 9, 2022, noted that the Ether token has a major resistance beyond the $2K price region which the token hasn’t been able to break for a long time.
The data from CoinMarketCap shows that the trading volume of the coin dropped by 3.63% in the last 24 hours, followed by a 2.90% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.06369, while the Market Dominance dropped to 17.35%.
The daily candle for Ethereum opened at a price of $1788 and reached a daily high of $1804. On the other hand, the daily low for ETH stands at a price of $1721. The price of 1 ETH at the time of writing is $1734.
Ethereum price analysis for June 10 on the daily chart
Ethereum price analysis for June 10, 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 37 which means that the selling pressure for Ethereum is gradually increasing and the gradient of the line suggests that lower prices are possible.
The MACD indicator shows that the MACD line is coming very close to the signal line and there are high possibilities of a bearish divergence.
The price action for Ethereum is situated in the lower region of the Bollinger Bands and a bearish breakout for the token can be expected.
Conclusion
Ethereum price analysis for June 10, 2022, ends on a bearish note for ETH with low chances of breaking $2K.
