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 Short-term Correction

Aayush Jindal
Aayush Jindal
Last Updated: June 11, 2024 1:19 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 started a short-term correction after trading as high as $313.05 against the US Dollar.
  • There was a break below two bullish trend lines with support at $310 and $305 on the hourly chart of ETH/USD (data feed via SimpleFX).
  • The price is now trading close to the 100 hourly simple moving average and remains supported above $298.50.

Ethereum price is correcting lower against the US Dollar and Bitcoin. ETH/USD is approaching a major support area near $298 where buyers would emerge.

Ethereum Price Support

There were decent gains in ETH price above the $300 level against the US Dollar. The price traded above the $310 level and formed a high at $313.05. Later, a correction wave was initiated and the price moved below the 23.6% Fib retracement level of the last leg from the $285.20 low to $313.05 high. However, the recent wave got extended as the price moved below the $306 level.

At the moment, the price is trading below the 38.2% Fib retracement level of the last leg from the $285.20 low to $313.05 high. Sellers succeeded in breaking two bullish trend lines with support at $310 and $305 on the hourly chart of ETH/USD. It seems like the price might correct further and could even test the $298-299 support area. The 50% Fib retracement level of the last leg from the $285.20 low to $313.05 high is also near $299.14.

Ethereum Price Technical Analysis ETH USD

At present, the pair is trading near the 100 hourly simple moving average and struggling to remain above $301. There is a chance of a dip towards $298-296 where buyers should protect more declines. Any further declines would be a bearish sign for a move towards the next important support at $291.

Hourly MACD – The MACD has moved back in the bearish zone.

Hourly RSI – The RSI is reaching the oversold levels.

Major Support Level – $298

Major Resistance Level – $306

 

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

Bitcoin

Bitcoin (BTC) Price In A ‘Vulnerable Technical Environment’ – Key Levels To Watch

Bitcoin (BTC) began the week dropping nearly 10% from the recent highs and retesting the $84,000 area before bouncing. As...

Rubmar Garcia 4 hours ago
XRP Price Rebound Faces Wall

XRP Price Rebounds From Lows as Bulls Push Recovery Toward Key Levels

XRP price started a recovery wave from $1.9840. The price is now rising above $2.120 and might face hurdles near...

Aayush Jindal 5 hours ago
Ethereum Price Bounce Looks Promising

Ethereum Rockets Higher, Narrowing Distance to a Make-or-Break Resistance Line

Ethereum price started a fresh increase above $2,920. ETH is now attempting to clear the $3,050 resistance and might accelerate...

Aayush Jindal 6 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

ethereum eth ethusd crypto

Can the Fusaka Upgrade Renew Ethereum’s Momentum After Recent Price Hit?

James Halver 37 minutes ago
cardano ada adausd

Cardano’s December Slide Intensifies: What’s Driving the Decline and What Comes Next?

James Halver 2 hours ago
Solana (SOL) Pushes Higher

Solana (SOL) Strengthens Above $135 as Market Sentiment Shifts Back Toward Bulls

Aayush Jindal 4 hours ago

Premium Sponsors

Press Releases

  • ETHが2,800ドル付近で停滞、次の重要局面はどこか

    ...

    16 hours ago
  • 市場不安の中で見える次の価格シナリオとは

    ビットコイン...

    16 hours ago
  • アルトコイン 注目銘柄:Cantor Fitzgerald の Solana ETF 計画で浮上する買い候補とは

    アルトコイン 注目銘柄:Cantor Fitzgerald の...

    18 hours ago
  • シバコイン...

    18 hours ago
  • ドージコイン 今後:専門トレーダーが予測する大幅反発の可能性とは

    ドージコイン...

    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.