Ethereum retains price action above $1200: Bulls remain in charge?
Ethereum price analysis for June 26, 2022, comes on a sluggish note for the world’s 2nd biggest cryptocurrency as prices have surged by 1.11% in the last 24 hours. Furthermore, as noted in our Ether price analysis for June 25, 2022, the token successfully breached the $1200 price level, and the bulls aimed to break into an uptrend as well. It seems that the bulls are trying to turn $1200 into a support region in order to reclaim higher prices in the coming days. However, a trend reversal can only be expected when Ether reclaims the $2K price region.
The data from CoinMarketCap shows that the trading volume of the coin dropped by 29.91% in the last 24 hours, followed by a 2.42% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.07687, while the Market Dominance rose to 15.65%.
The daily candle for Ethereum opened at a price of $1242.31 and reached a daily high of $1252. On the other hand, the daily low for ETH stands at a price of $1227. The price of 1 ETH at the time of writing is $1242.81.
Ethereum price analysis for June 26 on the daily chart
Ethereum price analysis for June 26, 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 40 which means that Ethereum bulls might need to push higher as currently, the bears are overall in control of the price action.
The MACD indicator shows that the MACD line remains above the signal line and the MACD histogram also remains bullish for the token.
The price action for Ethereum is situated in the lower end of the Bollinger Bands although we are likely to retest the middle zone of the Bands.
Conclusion
Ethereum price analysis for June 26, 2022, ends on a bullish note for Ether as the chances of the Ether token retaining the $1200 are high.
