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The price analysis of Ethereum shows that two hundred and seventy-five dollars ($275) is a crucial level, and any surge in the price will occur only if this level would be crossed.
However, if the current level persists, the price will decline to almost two hundred and fifty-eight dollars ($258).
ETH price is currently holding at the $270 price mark, but on the other hand, there is a good chance of correction since the bear and bulls sway now hourly.
Ethereum ETH price chart by Trading View
The medium-term price analysis of ETH/USD revealed the supply zone region to be above two hundred and seventy dollar range ($275, $287, $300) and the demand zone lies below two hundred and fifty dollar range ( $258, $242, $227).
On medium-terms the Ethereum shows surging trends as on price chart a bullish candle was evident on May 26. That indicates the crossing of the barrier of two hundred and fifty-eight dollars ($258) resistance point.
Ethereum ETH price chart created with Trading View
The current trading potential of Ethereum is around 21 periods EMA and 50 periods EMA. The two periods are segregated from each other, and therefore, it can be interpreted that if the supply zone penetrated well at $275 further surge in price will occur. The RSI indicator depicts the bend signal line that implies sell signal and RSI 14 lies above 60 zones.
Upper support has achieved a constant level of two hundred and seventy-five dollars ($275). ETH price is currently on 21 periods EMA. The technical indicator RSI shows strong selling signals with RSI period 14 hovering at around 50 levels.
