Just behind the resistance

Just behind the resistance

By hgjk | Innovations of ER20 tokens | 25 Jun 2020


Just behind the resistance

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Ethereum 232.09 USDT (-6.12%)

Although we continue our buy recommendation in Ethereum, we also see some technical strengthening. In ETH, where the uptrend continues, the 240 USDT levels, which were tried in the first week of June, are retried this yesterday . At a time when Ethereum's active supply is also decreasing, a game-changing news must come up so that prices don't go up. For this reason, it can be expected that the rises will be more mature than May and June, and with the support of the volume, the rises will break the 248 USDT and try the 287-290 USDT levels.

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The negative discrepancy between the MACD-price began to turn in favor of the price. We think that the MACD indicator has started to produce the right signal and will start buying after breaking the 248.6 USDT level. Therefore, the two-way strategy can be applied for ETH. First; Withdrawal may be expected towards USD 232-233, where the uptrend has passed, secondly; With the breaking of the 248.6 USDT level, the purchase of a resistance breakdown can be considered with a significant resistance standing before Ethereum. We maintain our positive view.

ETH, Daily chart

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Innovations of ER20 tokens
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