ETH/USD Long-term Trend: Bearish
Supply Zones: $500, $550, $600
Demand Zones: $400. $350, $300
The overall trend for the price of Ethereum in the month of June was bearish. Although, price of the cryptoasset was fluctuating within a confined range during the month of June. At the beginning of the month, the cryptoasset was trading at $619.89, but after price fluctuations during the month, Ethereum closed trading at $451.91 as at the time writing.
However, the bearish pressure is continuing, if the previous low of $425.51 is broken, Ethereum would find another low at $ 381.17. 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 Ethereum which indicates that the bearish pressure will continue. The relative strength index period 14 is level 43 indicates that price of the asset is in a sideways trend zone.
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