TRENDING:

GBP/USD

XAU/USD

Ethereum Price Prediction: ETH/USD at risk of losing $230 after a massive 5% crash

ETH/USD dips below $231 after a massive collapse from a $250 rejection.
Bulls need to hold $225.62 to maintain the daily uptrend.

Lorenzo Stroe Independent Analyst

Ethereum has lost most of its gains on June 22 after a significant price collapse to $231. Buyers are holding the daily 26-EMA at $232 for now but there is a significant risk of losing $230 and re-testing the low of June 20 at $225.62.

Are high fees driving investors away from Ethereum?

Ethereum has experienced a notable increase in its fees over the past few months. The median transaction fee on ETH was less than $0.05 back in April 2020. The current median is a whopping $0.271 fee per transaction which is getting dangerously close to Bitcoin’s median number of $0.63.

source: Bitinfocharts.com

Of course, many investors and Ethereum enthusiasts are hoping that Ethereum 2.0 will solve this issue but the update could still take months to get deployed.

ETH/USD technical levels

ETH/USD

Overview
Today last price	233.38
Today Daily Change	-9.84
Today Daily Change %	-4.05
Today daily open	243.22

Trends
Daily SMA20	237.49
Daily SMA50	221.39
Daily SMA100	191.34
Daily SMA200	185.93

Levels
Previous Daily High	244.95
Previous Daily Low	240.86
Previous Weekly High	238.59
Previous Weekly Low	218.14
Previous Monthly High	247.15
Previous Monthly Low	176.19
Daily Fibonacci 38.2%	242.42
Daily Fibonacci 61.8%	243.39
Daily Pivot Point S1	241.07
Daily Pivot Point S2	238.92
Daily Pivot Point S3	236.98
Daily Pivot Point R1	245.16
Daily Pivot Point R2	247.1
Daily Pivot Point R3	249.25

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

Avalanche struggles near $12 as Grayscale files updated form for ETF

Avalanche trades close to $12 by press time on Wednesday, extending the nearly 2% drop from the previous day. Grayscale filed an updated form to convert its Avalanche-focused Trust into an ETF with the US Securities and Exchange Commission.

Bitcoin slips below $87,000 as ETF outflows intensify, whale participation declines

Bitcoin price continues to trade around $86,770 on Wednesday, after failing to break above the $90,000 resistance. US-listed spot ETFs record an outflow of $188.64 million on Tuesday, marking the fourth consecutive day of withdrawals.

Michael Selig assumes role as new CFTC Chair, what does this mean for crypto?

Michael Selig has been sworn in to serve as the 16th Chairman of the Commodity Futures Trading Commission. Selig was confirmed by the US Senate to head the commission last week, following his October nomination by the US President Donald Trump.

Crypto.com hires sports trader for event prediction market-making

Crypto.com plans to recruit a quant trader for the sports market-making team to buy and sell financial contracts related to these events. Opponents argue that internal trading desks put operators or their affiliates on the opposite side of customer trades.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.

Are high fees driving investors away from Ethereum?

ETH/USD technical levels

ETH/USD

Legal Text

Markets move fast. We move first.

Editor's Picks