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Ethereum Price Forecast: ETH/USD getting ready for a breakout after new ETH 2.0 Onyx Testnet launch

ETH/USD still looking for that clear $250 break.
Bulls have defended the daily 12-EMA at $237,79 on June 9 and still maintain a daily uptrend.

Lorenzo Stroe Independent Analyst

Ethereum is definitely still bullish despite the lack of price action in the last week. The digital asset peaked at $253.47 on June 2 and has been consolidating ever since. The bulls have managed to defend the daily 12-EMA several times, something that is considered positive in the short-term. Ethereum only needs something to spark a break of $250 and take ETH up to $300.

Ethereum 2.0 closer than ever after the launch of Onyx

Another successful launch for Ethereum 2.0 blockchain. Onyx is being launched by Prysmatic Labs and it’s the last launch before the actual mainnet that will convert Ethereum’s current proof-of-work consensus mechanism into a proof-of-stake one.

Ethereum 2.0 is almost ready to be launched although a lot of enthusiasts believe that it may be delayed again. A successful transition would be great news for Ethereum and its price and could be the trigger of a new bull rally, perhaps to ATHs again.

ETH/USD daily chart

ETH/USD technical levels

ETH/USD

Overview
Today last price	243.27
Today Daily Change	-0.77
Today Daily Change %	-0.32
Today daily open	244.04

Trends
Daily SMA20	226.68
Daily SMA50	211.17
Daily SMA100	185.27
Daily SMA200	179.94

Levels
Previous Daily High	249.97
Previous Daily Low	237.02
Previous Weekly High	253.48
Previous Weekly Low	224.48
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	241.97
Daily Fibonacci 61.8%	245.02
Daily Pivot Point S1	237.38
Daily Pivot Point S2	230.72
Daily Pivot Point S3	224.43
Daily Pivot Point R1	250.33
Daily Pivot Point R2	256.63
Daily Pivot Point R3	263.29

Author

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

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