Markets Technical Analysis

Ethereum Fights to Hold on to Support

By Valdrin Tahiri
Updated by Kyle Baird
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In Brief

  • The closest resistance and support areas for Ethereum are found at ₿0.0255 and ₿0.023.

  • The price is following a short-term ascending support line.

  • ETH/USD is trading inside the $217 support area and following a long-term ascending support line.

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The Ethereum/Bitcoin pair has been decreasing since reaching a high on May 30. The failure to break out above a significant resistance area and subsequent decline suggest that the price might have begun a correction. ETH/USD, however, has yet to break down from its long-term confluence of support levels. ETH Trading Range The Ethereum price reached a local high of ₿0.0255 on May 30
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Valdrin Tahiri

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

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