- ETH/USD recovery capped by $160.00 barrier.
- Critical support is created by 61.8% Fibo retracement.
Ethereum (ETH) has recovered from Sunday's low registered at $156.53 to trade at $159.15 handle at the time of writing. However, despite some positive momentum, the coin is unchanged from this time on Sunday and immovable since the beginning of the Asian trading on Monday.
Ethereum’s technical picture
ETH/USD recovery is now limited by psychological $160.00 coupled with 50.0% Fibo retracement ($159.80). Once this barrier is out of the way, the upside momentum might gain traction with the next focus on $161.70 barrier created by an upper boundary of 1-hour Bollinger Band. This resistance is followed by SMA200 (1-hour) $61.70. The critical barrier is seen at the congestion zone $166.30-50 that encompasses 38.2% Fibo retracement and the upper boundary of the previous consolidation channel.
On the downside, a sustainable move under $157.30 (middle line of 4-hour Bollinger Band) will expose $153.00 strengthened by the lower line of 4-hour Bollinger Band and 61.8% Fibo retracement. The next support comes at the recent low of $148.23.
Follow us on Telegram
Stay updated of all the news
Two key dates over the SEC request to freeze Binance assets
Crypto exchange Binance must respond to the US Securities Exchange Commission’s (SEC) order to freeze assets tied to its subsidiary Binance.US by June 12, ahead of a court hearing about the case on June 13, according to the D.C. district court schedule.
Ethereum price declines as Coinbase ETH liquidity staking platform sees mass withdrawals
The US Securities and Exchange Commission’s (SEC) crackdown on Coinbase led to mass withdrawals of Coinbase wrapped staked Ether (cbETH) since Tuesday, acting as a bearish catalyst for the asset’s price.
Dogecoin Price Prediction: History suggests a potential 30% rally in DOGE
Dogecoin (DOGE) price has been trading within a fixed range over the last six months, taking seasonal leaps as volatility increased. With this accumulation pattern, the king of meme coins could be en route to complete the next bounce cycle.
Axie Infinity price recovery delayed despite investor deposits hitting a five-month high
Axie Infinity price, following the broader market cues, is trending downwards for the moment as the bearishness in the market has grown considerably. Incited with the regulatory crackdown by the SEC, the investors have resorted to offloading their holdings for now.
Bitcoin: BTC targets $30,000 as short-term bias turns bullish
Bitcoin (BTC) price shows a clear sign of the bulls’ victory. After failing to trigger a steep correction, bears look now out of context, at least in the short term, allowing buyers to restart a minor uptrend.