Forex and Crypto News

Ethereum starts the week with growth

10:40 22 June /2020

After the formation of a strong support level of $225, Ethereum began to move to the $235 area, but could not overcome it. As a result, the ETH USD pair has been trading sideways over the past week, gradually decreasing to the support level of $225.


Ethereum began the new trading week with growth. The ETH/USD pair overcame the $230 mark and rushed to the upper limit of the weekly range of $235. Now the ETH/USD pair has received intermediate support around $232. This level is a 23.6% Fibonacci retracement rate from growth from $227 to $235.

If the pair ETH/USD rises above $235 and fixes above this level, we will see a quick movement to the area of ​​$240. Above this level, the ETH/USD pair will slow down to $250.

If the bears manage to lower the price of Ethereum below the intermediate support level of $232, the next level of $230 should stop the fall. If the bulls fail to protect the level of $230, there is a risk of a sharp decline. In this case, the support level of $225 will enter the game again.

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