The Ethereum cryptocurrency (ETH) is in a state of sluggish corrective movement after the fall that occurred on June 9, and since then the coin price has not been able to break through the resistance level reached at around $ 245.
At the time of writing, the price of ETH was $ 243, but contrary to expectations, it does not follow the movement of the price of bitcoin, as it was before the fall.
The price of ETH has fallen below $ 240 on June 9, and since then it has moved in the range of $ 241 to $ 244. The second cryptocurrency in terms of capitalization overcame the resistance found at $ 245 and rebounded below this mark.
Ethereum Price Movement: What to Expect? An analyst at Double White Diamond believes that the Ethereum price movement is approaching a critical point where it will overcome the resistance point after crossing the moving average (MA).
Diamond recorded strong resistance in the Ethereum movement at around 249 dollars and above – at 250.88 and 251.20 dollars, he also allocated support at 235 dollars, and below – at 224 dollars.
While another analyst, Izor, believes that cryptocurrency could fall to the level of $ 214, and then maneuver to $ 280, and then to $ 312. So far, the price of ETH has not been able to break through to the level of $ 280 since February 18, 2020, therefore, a failure can also mean a catastrophe for an asset that is already moving uncertainly.