Ethereum Forecast for June 22, 2023


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The ETH/USD quotes are trading around 1780 and continue to move within a strong bullish correction and a descending channel. The market capitalization of Ethereum cryptocurrency at the time of forecast publication amounts to $214,358,907,804. The moving averages indicate the presence of a short-term bearish trend for Ether. Prices are once again testing the area between the signal lines, indicating pressure from sellers and a potential continuation of the asset’s price decline from current levels. Currently, we can expect an attempt to develop an upward movement in the coin’s value and a test of the resistance level near the 1805 area, followed by a likely downward rebound and further decline in the Ethereum price with a potential target below 1495.

Ethereum Forecast for June 22, 2023

An additional signal in favor of the ETH/USD quotes’ decline will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the upper boundary of the bearish channel. The cancellation of the cryptocurrency’s decline scenario would occur with a significant increase in the value of Ethereum and a breakthrough above the 1885 level. This would indicate a breakthrough of the resistance area and a continuation of the ETH/USD quotes’ rise above the 2175 level. The scenario of the cryptocurrency’s decline will be confirmed with a breakthrough of the support area and the closing of quotes below the 1725 level.

Ethereum Forecast for June 22, 2023

Ethereum Forecast for June 22, 2023 suggests an attempt at correction and a test of the resistance area near the 1805 level, followed by an expected rebound and a continuation of the decline in the ETH/USD cryptocurrency towards the area below the 1495 level. An additional signal in favor of Ethereum’s decline will be a test of the trend line on the relative strength indicator. The cancellation of the digital currency’s decline scenario will occur with a breakthrough above the 1885 area, indicating a continuation of the digital currency’s rise with a potential target above the 2175 level.


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