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Ethereum price analysis - ETHUSD still in the danger zone

OctaFx | Jun. 13, 2019
Ethereum price analysis - ETHUSD still in the danger zone

13 June 2019, OctaFX – Ethereum price has returned towards the $260.00 resistance level as the second largest cryptocurrency tracks the broader market higher on Thursday.

Ethereum price technical analysis

Ethereum is still in the danger zone while trading below the $280.00 as the bearish head and shoulders pattern still remaining valid. Overall, ETHUSD price is still tracking BTCUSD fairly closely this week and has yet to break the strong correlation.

  • If ETHUSD price trades above the $260.00 level, key resistance is found at the $280.00 and $320.00 levels.

  • If ETHUSD price fails from the $260.00 level, key support is found at the $230.00 and $205.00 levels.

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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