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: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism
  • 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: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism

Ethereum Price Technical Analysis – ETH/USD Could Break $500

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:23 pm
2 mins read
Ethereum Price Technical Analysis ETH USD

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 is under pressure as it moved below the $560 support level against the US Dollar.
  • There was a break below a major bullish trend line with support at $560 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair may continue to decline and it could even attempt a break below the $500 level in the near term.

Ethereum price is slowly declining once again against the US Dollar and Bitcoin. ETH/USD remains at a risk of more declines below the $500 level.

Ethereum Price Resistance

There were no further gains above the $585-590 levels in ETH price against the US Dollar. The price started a downside move and traded below the $575 and $560 support levels. There was also a break below the 23.6% Fib retracement level of the last wave from the $455 low to $589 high. During the decline, the price also broke the $540 level and it is currently well below the 100 hourly simple moving average.

More importantly, there was a break below a major bullish trend line with support at $560 on the hourly chart of ETH/USD. At the moment, the pair is trading a few points below the 50% Fib retracement level of the last wave from the $455 low to $589 high. It may continue to decline in the short term and there is a risk of a break below of the $500 support. Below $500, the price may trade lower towards the 76.4% Fib retracement level of the last wave from the $455 low to $589 high at $487.

Ethereum Price Technical Analysis ETH USD

On the upside, there is a connecting bearish trend line with current resistance at $554.00. Moreover, the 100 hourly SMA is positioned at $552 to act as a major hurdle for buyers.

Hourly MACD – The MACD is now in the bearish zone.

Hourly RSI – The RSI is currently well below the 60 level.

Major Support Level – $500

Major Resistance Level – $550

 

Charts courtesy – Trading View

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

Dubai projecteert Solana op de Burj Khalifa - kan SOL nog $200 bereiken eind 2025?

Dubai projecteert Solana op de Burj Khalifa – kan SOL nog $200 bereiken eind 2025?

De Solana community keek even twee keer toen in Dubai een lichtshow opdook waarbij het SOL-logo over de Burj Khalifa...

Lars Diederiksen 1 hour ago
Bitcoin Hyper привлек $28,8 млн на пресейле

Bitcoin Hyper привлек $28,8 млн на пресейле

Биткоин остается ключевым активом для долгосрочных держателей, но его базовый слой так и не был создан для высокой пропускной способности,...

dariatres 1 hour ago
Best Altcoins to Buy as Crypto Derivatives Shift to Full-On FOMO

Best Altcoins to Buy as Crypto Derivatives Shift to Full-On FOMO

What to Know: With derivatives markets finally chilling out and funding rates normalizing, traders are quietly swapping fear for early...

Aaron Walker 1 hour 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

Tempête Bitcoin domination.

Bitcoin Price Crash Below $50,000? Analyst Reveals Why 2026 Will Be The ‘Best Year’

Sandra White 12 minutes ago
Strategy's Green Dots Suggest Flexibility, Fueling Interest in $HYPER Presale

Strategy’s Green Dots Suggest Flexibility, Fueling Interest in $HYPER Presale

Aaron Walker 42 minutes ago
Bitcoin sous pression à 86 000 $ malgré le bull run en cours.

Bitcoin sous pression à 86 000 $ malgré le bull run

guillaumev 53 minutes ago

Premium Sponsors

Press Releases

  • Best Meme Coins With 100x Potential

    Nên mua crypto nào ngay bây giờ, các đồng coin...

    17 minutes ago
  • Best altcoins

    Những alt coin mà cá voi đang gom mạnh để săn...

    39 minutes ago
  • Trader sa 100% uspješnosti otkriva da ide long na ove 3 kriptovalute

    Trader sa 100% uspješnosti otkriva da ide long na ove 3...

    3 hours ago
  • ドージコイン 今後 と買われるミームコイン:市場動向と最新予測

    ドージコイン 今後...

    17 hours ago
  • リップル 今後:バイナンスのXRP供給が過去最低に下落、3ドル突破の行方は?

    リップル...

    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.