Relevance up to 13:00 2021-06-22 UTC+3
- ETH retested resistance at $2,200 overnight.
- Ethereum drops lower over the past hours.
- Next support around $1,900.
Ethereum price outlook is bearish as the market dropped lower over the past hours and moved away from the $2,200 resistance once more. Therefore, bears are still in control and we can expect ETH/USD to move lower over the next 24 hours. The overall market has been trading in the red over the past 24 hours. Bitcoin has lost 6.7 percent, while Ethereum 7.59 percent. The rest of the altcoin market has been following the bearish trend.
On the 4-hour chart, we can see the Ethereum price moving lower over the last hours after another retest of the $2,200 mark, indicating that bears are still in control.
Ethereum price analysis is bearish for the rest of the day as we can expect the market to continue lower over the next 24 hours after some retracement higher over the next hours. This should lead Ethereum towards the next support at $1,900.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
Forex original source link