Ethereum (ETH) Gas Circulating Supply Tops 100M Tokens, New Price Expectations?

ETH/USD Long-term Trend: Bearish

Supply Zones: $550, $600, $650
Demand Zones: $450. $400, $350

The overall trend of the price of Ethereum is bearish. The price of the asset was $619.89 as of June 3, 2018, but it has fallen to the low of $492.43 as at the time of writing. Presently, the asset is fluctuating below and above the $500 price level. If the bearish pressure on the asset continued the asset might fall to the low of $450.

Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the 12-day EMA and the 26-day EMA are neither below nor above the price of the asset. This indicates a neutral signal for the price of Ethereum. The relative strength index period 14 is level 45 indicates that price of the asset is in a sideways trend zone.

The views and opinions expressed here do not reflect that of and do not constitute financial advice. Always do your own research.

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