$ 1,223.52 1.09%
$ 40.44 0.83%
$ 0.073228 8.04%
$ 4.93 11.37%
$ 21,247.00 0.09%
$ 237.51 0.43%

Ethereum price analysis: ETH slows down at $2,600, another higher low set? 

Ethereum Price analysis

TL;DR Breakdown

  • Ethereum’s daily price analysis is bullish.
  • ETH/USD slowly retraced over the last 24 hours.
  • Found support around $2,600 for now.

Ethereum price analysis is bullish today as we expect a reversal to follow soon after the selling pressure slowed over the last 24 hours. Therefore, we expect ETH/USD to have found support around $2,600 and begin a reversal from this point.

Ethereum price analysis: ETH slows down at $2,600, another higher low set?  1
Cryptocurrency heat map. Source: Coin360

The market has endured a bearish movement over the last 24 hours, with the market leader, Bitcoin, losing 4.26%, and Ethereum, 4.72%. Other top altcoins have also traded with similar results.

Ethereum price movement in the last 24 hours: Ethereum continues to retrace, momentum slows down

ETH/USD traded in a range of $2,589.55 – $2,723.83, indicating low volatility over the last 24 hours. Trading volume has increased by 19.86%, totaling $14.17 billion. Meanwhile, the total market cap trades around $314.8 billion, resulting in a market dominance of 18.51%.

ETH/USD 4-hour chart: ETH finds support at $2,600

On the 4-hour chart, we can see Ethereum show a slight reaction around the $2,600 mark after the retracement reduced over the last 24 hours.

Ethereum price analysis: ETH slows down at $2,600, another higher low set?
ETH/USD 4-hour chart. Source: TradingView

The Ethereum price shows clear signs of recovery over the past week. After a series of higher lows were set earlier in the month, ETH/USD finally broke above the $2,700 previous major resistance.

On Tuesday, ETH peaked at around $2,800, establishing an impressive higher high, setting a strong bullish market structure. After some consolidation yesterday, it dropped during the second half of the day, leading to further retracement over the last 24 hours.

However, since the Ethereum price has seen a substantial retracement from the previous high, we expect another higher low to be set soon. Likely the $2,600 mark will have a good chance at reversing the market as it previously served as a local resistance. In this case, ETH/USD should see more upside by the end of the week.

Ethereum price analysis: Conclusion 

Ethereum price analysis is bullish today as we expect the current retracement to end soon. Therefore, ETH/USD could soon set another higher low and continue higher over the rest of the week.

While waiting for further Ethereum recovery, see our articles on Coinbase vs Coinbase Pro, Hardware vs Software wallet comparison, best Crypto trading platforms in the USA.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.



Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

Related News

Hot Stories

Crypto News Alert – A New Meme Coin That Will Process 50,000 Transactions Per Second
Shiba Inu price analysis: SHIB continues to rise with $0.00001350 in sight
Ripple price analysis: XRP/USD set to break above $0.54 overnight
Ethereum price analysis: ETH swiftly breaks $1,250, strong upside next week?
VIP Treat: Binance's new platform targets high-end clientele and institutional investors

Follow Us

Industry News

Mastercard survey: 50% of Latin Americans use crypto
Margin calls and bot liquidations add chaos to crypto as its market cap hits $964b
Bitpanda lays off workers amid the market decline
Coinbase to launch Nano BTC features aimed at retail traders on June 27
Namibian University will offer master's degree in blockchain technology soon