Ethereum (ETH) remains volatile, offering opportunities for Strategic Trading. As of June 11, 2024, Ethereum (ETH) is priced between $3514 and $3503.

Ethereum’s one-hour chart shows short-term volatility, with ETH testing lows around $3490 and struggling to stay above $3700. Key support is at $3450, and resistance is at $3720. Increased volume at $3500 suggests strong buyer interest near the support level.

Ethereum Price Analysis- 1-Hour Chart SOURCE: TradingView

The 4-hour chart shows Ethereum in a downtrend, with a notable drop to $3450 after a consolidation that seemed to stabilize around $3700. Volume spikes on large red candles highlight strong selling pressure if consolidation occurs around the key support level.

Ethereum price analysis- 4-Hour Chart SOURCE: TradingView

on the daily chart, Ethereum displays a significant upward movement followed by a sharp decline and subsequent consolidation. ETH reached a peak near $3980 before declining. Key support is around $3450, with resistance near the recent high of $3980. The high volume of large red candles suggests significant selling pressure.

Ethereum Price Analysis-Daily Chart Source: TradingView

The Oscillators present a mixed outlook for Ethereum. The Relative Strength Index (RSI) at 53.7, Stochastic at 27.8, Commodity Channel Index (CCI) at -134.3, and Awesome Oscillator at 235.9 all indicate neutral signals. However, the Momentum Oscillator at -78.6 and the Moving Average Convergence Divergence (MACD) level at 95.4 suggests a sell action.

Moving Averages (MAs) offer a mix of buy and sell signals. Short-term averages, like the 10-period Exponential Moving Average (EMA) and Simple Moving Average (SMA), suggest more sell action with values at this price level of $3,729 and $3759, respectively. Conversely, mid to long-term moving averages, including the 20-period EMA at $3,676 and the 30-period EMA at $3,600, suggest a lot of buying pressure at this level.

Long term view

Long-term averages also favor buying, with the 50, 100, and 200-period EMAs and SMAs all indicating a bullish stance. This mixed outlook from moving averages suggests cautious trading, aligning with both short-term sell signals and long-term buy signals.

Bullish conclusion

Ethereum’s mid-to-long-term moving averages and the potential support level of around $3450 indicate buying opportunities. A price approach to this support level with decreasing volume might signal an entry point for long-term gains.

Bearish conclusion

Short-term indicators and recent high-volume selling pressure indicate bearish signals. Immediate resistance levels and sell signals from short-term moving averages suggest caution. Traders should consider short positions or look for selling opportunities during upward movements struggling to sustain.

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