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Ethereum price analysis - ETHUSD attempts recovery

OctaFx | Jun. 3, 2019
Ethereum price analysis - ETHUSD attempts recovery

3 June 2019, OctaFX – Ethereum price continues to attempt recovery in early Monday trade after the second largest cryptocurrency found solid technical support from the $230.00 level.

Ethereum price technical analysis

The next strong directional move in the ETHUSD pair will likely come when a confirmed breakout occurs from the $230.00 to $285.00 price range. Overall, bulls need to post a fresh yearly trading high to negate a potential double-top pattern formation on the lower time frames.

  • ETHUSD price is intraday bullish while trading above the $245.00 level, key resistance is found at the $285.00 and $325.00 levels. 

  • If ETHUSD price trades below the $245.00 level, key support is found at the $230.00 and $205.00 levels.

ETHUSD price, Ethereum price technical analysis

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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