NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: XRP Price Predictions: AI Forecasts $4.40 By March 2026, Analysts Target Up To $6
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: XRP Price Predictions: AI Forecasts $4.40 By March 2026, Analysts Target Up To $6

Ethereum Price Technical Analysis – Time To Take Profits?

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:21 pm
2 mins read
Ethereum Price Technical Analysis

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Key Highlights

  • ETH price continued its downward move against the US Dollar and created a new low as forecasted yesterday.
  • This week’s long followed bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD is still active and acting as a resistance.
  • The price action is not shaping up well, which means it may be the right time for sellers to step back.

Ethereum price ETH declined further to create a new low versus the US Dollar. Can it continue to move down in the short term?

Ethereum Price Decline

Ethereum price ETH is in a downtrend versus the US Dollar as it can be clearly seen from the chart. However, this can be only a short-term trend. Once there is a bottom formed, we can see some recovery in ETH moving ahead. I have been tracking a bearish trend line on the hourly chart (data feed via SimpleFX) of ETH/USD during this week. It continued to act as a barrier for the ETH bulls, and prevented gains on many occasions.

There was a new low formed yesterday, as I was anticipating. I strongly feel the sellers are exhausted and may step back in time. So, if you are a seller, I think it may be the right time to book profits before there can be a reversal. The price is currently attempting to move above the 23.6% Fib retracement level of the last drop from the $12.33 high to $10.16 low.

Ethereum Price Technical Analysis

If the ETH bulls succeed in settling the price above the stated fib level, then the highlighted bearish trend line may be challenged once again. A break above it is needed for the bulls to be back in action.

Hourly MACD – The MACD is strongly bearish, and showing no signs of a recovery.

Hourly RSI – The RSI is moving away from the oversold readings, and may test the neutral level soon.

Major Support Level – $10.40

Major Resistance Level – $11.00

 

Charts courtesy – SimpleFX

Tweet123Share196ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

하버드의 대규모 비트코인 매집, 하락장 공포와 대조되는 기관 전략 보여

하버드의 대규모 비트코인 매집, 하락장 공포와 대조되는 전략 보여

핵심 내용: 비트코인 급락기에도 기관은 장기 전략을 유지하며 매수세를 이어가며 시장 구조적 변화를 재확인했다. 하버드의 대규모 비트코인 ETF 매입은 새로운 자산군을 편입하려는 기...

Soyeon Lee 3 hours ago
Solana (SOL) Needs to Hold $200

Solana (SOL) Starts to Retreat From Highs as Momentum Shows Early Fatigue

Solana failed to stay above $144 and corrected gains. SOL price is now trading below $140 and might find bids...

Aayush Jindal 4 hours ago
XRP, SEI, dogwifhat, WIF, Celestia, Solana, tron, BNB, chainlink

XRP ETFs Record 13-Day Streak As SOL Funds See Largest Outflows Since Launch

As institutional demand intensifies and the crypto market recovers, US spot XRP Exchange-Traded Funds (ETFs) continue to lead the sector...

Rubmar Garcia 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Dogecoin price news

Dogecoin Bulls Smell $1.30 As On-Chain Data Turns Red-Hot

Jake Simmons 2 minutes ago

Vadošā kriptovalūtu iepriekšpārdošana, kuru neplaist garām 2026. gadā

lasma 17 minutes ago
Bitcoin

A New Era Begins: CFTC Approves Spot Bitcoin On Regulated US Markets

Christian Encila 1 hour ago

Premium Sponsors

Press Releases

  • アルトコイン 市場を牽引する注目プロジェクトまとめ ― 本日12月4日の最新動向

    アルトコイン...

    17 hours ago
  • ドージコイン 今後:0.15ドル突破で強気転換が明確に

    ドージコイン...

    17 hours ago
  • リップル 今後:ETFへの機関資金流入が加速、XRPは急伸局面に入る可能性

    リップル...

    17 hours ago
  • 仮想通貨 プレセール:SEC が Rule 13f-2 を終結させ、市場で注目される購入候補とは

    仮想通貨 プレセール:SEC が Rule 13f-2...

    17 hours ago
  • 仮想通貨 おすすめ:ブラックロックがAIとステーブルコイン領域へ動く中で注目すべき資産とは

    仮想通貨...

    18 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.