Ethereum Price Analysis: June 14 - 21

Published at: June 21, 2017

Ethereum price is adjusting to the long-term growth. The question is, how will a fall in demand at the current level affect ETH?

USDT\ETH

Smart contracts fever

Russia and China are considering using Ethereum to digitalize their national currencies. According to the Vice President of the PBOC Research Department, the growing interest in smart contracts can be explained by the fact that the Enterprise Ethereum Alliance infrastructure allows you to develop truly great smart applications.

Blockchain Ethereum usage is unlikely to be used by banks, but the interest will surely grow. Right now, Ethereum price is “stuck” between two long-term resistance zones: $300 - $400. The upward trend structure hasn’t been broken yet.

Demand fall

After Ethereum price fell to $250, there was a rebound from the long-term resistance. The demand at the uptrend peak of $400 is significantly lower than it was on June 12-14. Overall, the demand and supply levels are falling. It indicates the traders’ uncertainty. The course needs a push and it will most likely be made by a major player. The strategic level is in the $300 area. If there’s a large player’s position there, there will be no downward movement if the price reaches its mark and the growth continues. If there are no positions at $250, there will be a new fall, which will start from a downward turn in the $340 - $350 area.

USDT\ETC

No changes in uptrend

After another fall to $14, Ethereum Classic couldn’t form a turn at the key point. This indicates that there’s support from a large buyer. If a large player does not start speculating to fix profits, the growth will go on.

Demand increase

The $20 area is essential for a large buyer, as it is in high demand. This is obviously higher than the one on June 12-14. That’s why the price reaction to the $20 resistance zone will be the key factor. If the demand stays the same on this mark and there is no downward turn, the growth will continue. Otherwise, the price fall to the starting point is quite likely.

Most likely scenarios

ETH\USD

If there’s a correction to the $300 area and no downward turn, chances are Ethereum price will grow.

ETC\USD

Ethereum Classic upward movement will go on if there is no downward turn at the $20 mark.

Tags
Ethereum
Ether Price
Ethereum Classic
Related Posts
Bitcoin Hovers Near 6,600, While Most Top Coins See Little Price Volatility
Friday, Oct. 5: cryptocurrencies are seeing little volatility over the past 24 hours to press time, with the majority of losses and gains of top coins capped within a 1 percent range on the day, as data from Coin360 shows. Market visualization by Coin360 Ripple (XRP) is the only outlier in the top ten coins, down a little over 3 percent on the day to trade at $0.52. The asset – which in September briefly outflanked Ethereum to seal the second spot ranking on CoinMarketCap listings – has had a shaky start to the month, and is currently trading almost …
Bitcoin / Oct. 5, 2018
Ethereum Price Analysis: May 23 - 29
Large-volume speculation has become the reason for Ethereum’s price fall of more than 50 percent. Is the price going to fall again? USDT/ETH Profitable situation for the bears The fact that more than 80 companies have joined the Enterprise Ethereum Alliance (EEA) is definitely good news for the Ethereum community. Many understand this and expect a consequent reaction in the price. But news cannot be a decisive factor in trends. That is exactly because the current situation is profitable for the people looking to take their profits. The large volume of buy deals at the peak of the trend is …
Ethereum / May 29, 2017
Ethereum Price Analysis: May 10 - 16
Ethereum price is still traded inside the $75 to $95 flat. Its recent increase could have been caused by the news from the ConsenSys developers. ETH\USDT Interest growth among the bulls The powerful fall in the price from the top level of $95 has disrupted the structure of stable growth. That’s why further growth from the $75 limit has been mostly flat-like. However, the recent publishing of p2p-exchange called Swap by the developers of ConsenSys could have been the cause for the new increase in price. Buy volume dominating As we can see on the sideway diagram, the volume of …
Ethereum / May 16, 2017
Ethereum Price Analysis: April 26 - May 2
Ethereum price has exited its medium-term flat and continued the long-term growth. Is this the result of the news on possible SEC’s approval of the ETF? ETH\USD As expected, after the price fortified and made an upward reversal at $50 to $52, Ethereum has formed long-term growth going up by more than 60 percent. Some think this growth has to do with the second review of the Winklevoss Bitcoin ETF by the US Securities and Exchange Commission (SEC). However, these are only guesses, because the actual results have not yet been revealed. Do the majority of the traders really have …
Ethereum / May 2, 2017
Ethereum post-Merge hard forks are here: Now what?
On the first day after the Merge, the decentralized finance (DeFi) community is settling into the seemingly uneventful transition of the Ethereum network from proof-of-work (PoW) to proof-of-stake (PoS). However, it has yet to be seen the benefits that hard forks will bring to PoW supporters. So far, the most important contending networks in favor of the mining community, EthereumPoW and Ethereum Classic, have shown different outcomes post-Merge. A stumbling start The fledgling EthereumPoW started its debut with Twitter users reporting issues with accessing the network. The issues were confirmed to be the result of a hack to the network …
Adoption / Sept. 22, 2022