ETH/USD Long-term Trend: Bearish

Supply Zones: $500, $550, $600
Demand Zones: $400. $350, $300

The overall trend for the price of Ethereum is bearish. The price of the cryptoasset was $619.89 as at June 3, 2018, but it has fallen to the low of $471.70 as at the time of writing, June 23, 2018. The ETH/USD pair had depreciated in value for about 23.9 %. The bearish pressure is not over, as  the cryptoasset is likely to fall to the low of $380. Presently, the cryptoasset is in a downward trend.

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 26-day EMA are above the price bars of the cryptoasset which indicates that the bearish pressure will continue. The relative strength index period 14 is level 45 which indicates that price of the asset is in a sideways trend zone.

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

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