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ETH/USD 06.07.2017

ETH/USD Chart

Ethereum couldn’t reach the $310 resistance zone. Currently, we can observe smooth movement towards the $225 support level.

What to expect:

  • Presumably, the support zone has moved to $250, which is suggested by the trading volumes. Nonetheless, the volumes are not high enough to indicate the support zone movement. That’s why, from the current perspective, the $225 support zone should be treated as strong, while $250 looks like a potential support level.
  • Based on the technical analysis, the good buy price at ETH is $225. However, it is possible that the support level will not persist, we may see Ethereum price reaching the $150 point. Still, this scenario is hardly feasible, but one should keep this possibility in mind.
  • News will generally play the most important role. In case they are neutral and the overall crypto market grows, we might see an increase at ETH/USD pair. This will result in ETH losing positions, while other cryptocurrencies will increase their capitalization.
  • In case the $225 level proves to be strong, long positions with targets at $290 to $300 should be opened. This scenario seems to be the most plausible, based on the current market review.
  • If the support zone moves to $250 without increases in trading volume, it is better not to make rush decisions on the market.

Still, the possibility of a negative scenario for ETH/USD is rather small.

The market is anticipating PoS, along with investors. Thus the price level below $225 seems to be unfeasible.

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