ETH/USD Long-term Trend: Bearish
Supply Zone: $650, $700, $750
Demand Zone: $550. $500, $450
The ETH/USD pair had been bearish in the last couple of weeks in the month of May 2018. From the monthly chart, a single bearish candlestick represented the whole month of May. For the month of May, the asset commenced at a price of $671.52 and it fell to the low of $579.86. However, after the bearish trend, price of Ethereum had been range bound in the month of May. Price of the asset had been fluctuating between the levels of $650 and $ 500.
The asset had not gone beyond those levels in the last two weeks. For the month of June, the price of the asset is likely to rise after the range bound movement. The relative strength index period 14 is level 48 indicates that price of the asset is in the range bound zone.
The views and opinions expressed here do not reflect that of BitcoinExhangeGuide.com and do not constitute financial advice. Always do your own research.