On June 4, the Ethereum price (ETH) reached a low of $235.22. Similar levels were reached on June 5 and 6. However, a rapid decrease began on June 9 and the next day the price reached lows of $226.01.
Ethereum has been increasing since.
Below, we are going to analyze the Ethereum price (ETH) in different time-frames and alongside technical indicators, in order to try and predict future movement. You can read our previous analysis here.
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Ethereum Price (ETH): Trends and Highlights for June 10
- ETH reached a low of $226.01 on June 10.
- It is trading inside a descending wedge.
- There is a short-term bullish divergence developing in the RSI.
- The 10- and 20-day moving averages have made a bearish cross.
- Long-term bearish divergence has developed in the RSI.
- There is resistance near $250.
Descending Wedge
The Ethereum price (ETH) is analyzed at one-hour intervals from June 5 to June 10 in order to analyze its current pattern.
On June 5, ETH/USD reached a low of $238.05 A gradual upward move ensued and ETH’s price reached a high of $253.93 on June 7. Since then, it has been decreasing, creating the descending wedge outlined below:
Ethereum Price (ETH): RSI and Moving Averages
The price of ETH is analyzed at six-hour intervals alongside the RSI below:

Reversal Areas
One resistance area is traced for ETH/USD below:
Summary
To conclude, the price of Ethereum (ETH) has recently experienced significant decreases. It is currently trading in a short-term descending wedge. The technical indicators give a positive outlook in the short term but a negative in the long-term. Do you think the Ethereum price (ETH) will break out from the wedge? Let us know your thoughts in the comments below! Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst.
(I do not have a discord and will not contact you first there. Beware of scammers)
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