Ethereum (ETHUSD) Price Forecast: June 23
ETHUSD‘s price is currently running a bullish race and remains stable at the moment. The price might head to the $2500.00 high mark as the crypto is facing high pressure from the bulls. Thus, a sharp breakout and closure above the current correction phase at $1827.46 high value will invalidate any bearish thesis and the price might hit the high at $2500.00 resistance level and beyond.
Key Levels:
Resistance Levels: $1800.00 $1900.00, $2000.00
Support Levels: $1200.00, $1100.00, $1000.00
ETH (USD) Long-term Trend: Bullish (Daily Chart)
ETHUSD remains bullish on the higher time frames. This is clear as we can see the prices trading at the upper resistance area indicating a strong bullish trend. However, the recent market has favored the bulls.
The strong push by the bulls to the $1803.73 supply trend level during yesterday’s session has contributed to its strong bullish trend in its recent high.
The bulls made an increase to the $1827.46 supply value slightly above the two EMAs shortly after the daily chart opens today. This indicates that the buy investors are actually dealing in the coin investment.
Therefore, if the bulls could increase their tension in the market, the price tendency will move above the key levels to retest its previous swing high of $2142.85 value, resulting in an intraday gain for the coin buyers.
Similarly, the Ethereum price is also pointing upwards on the daily stochastic, this suggests that the coin price may likely continue in an upward direction and head toward the $2500.00 supply trend line in the days ahead in its higher time frame.
ETH (USD) Medium-term Trend: Bullish (4H Chart)
The ETHUSD pair is in a bullish momentum in its medium-term view. The trend is rising and the price has not yet reached its goal.
The high order flow from the bulls at the $1797.24 high value during yesterday’s session also added to this bullishness in its recent high.
On the 4-hourly chart today, there is a broader recovery in the prices. The cryptocurrency jumped up to a $1822.59 supply level above the moving averages as the bulls took to their stand in the market.
This bullish correction, however, indicates a gradual improvement in market sentiment and leads to more intraday gains in assets to higher prices.
In addition, more upsides are still coming as shown by the stochastic oscillator pointing upwards to indicate an uptrend. With the look of things, the bullish rally may therefore head towards the $2500.00 high value in no long time on the medium-term time frame.
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