Within June, the price of Ethereum is consolidating in the range of $ 218 to $ 250.
On June 2, the second-largest cryptocurrency by market capitalization managed to break above $ 250, and it looked like resistance would turn into support.
When ETH reached $ 253 Bitcoin is poured from $ 10,200 to about $ 8,600 per BitMEX and up to $ 9,300 per Binance.
Looking at the daily MACD and MFI, we can conclude that an adjustment is forthcoming in the Ethereum , as a result of which the price may test the area around $ 228. Trading volume is also declining, which suggests that we may see a decline.
The price of Ethereum is currently around $ 243 and is above the 50, 100 and 200-day moving averages. This confirms that the cryptocurrency is still bullish, especially considering the launch of the network update, which should be released by the end of July or in the third quarter of 2020.
It is expected that with this upgrade the price could break $ 250 and shoot up to the next resistance of $ 290. Failure to break this level would return Etherium to $ 228, and probably lower after the update.
Arcane Research estimates that approximately 120,000 Ethereum addresses have accumulated 32 ETHs, probably pending stacking, as this is the required minimum amount. This is an increase of 13% last year.