Issued on: 01th Jun’23
Valid upto: 06th Jun’23
Token: ETH
Category: Layer 1
Market Cap: $223,388,507,452
Circulating Supply: 120,245,588
Total Supply: Not caped
Price Update:
ETH price at the time of writing (01th Jun, 17:30) is $1858 with 24-hour trading volume of $5,613,798,381. ETH price is up by 0.29% in the last 24 hours according to coinmarketcap.com. Ethereum (ETH) is currently a deflationary supply of -0.88% per annum.
Source: Tradingview
- After breaking upwards from 55EMA (H4 Chart), ETH faced resistance at $1920, and faced its first rejection.
- The prices are currently correcting towards the horizontal support and 55EMA at $1850.
- As it tried to break $1920, price action, RSI, MACD highlights that it will soon attempt another movement. (Volatility can be traded if that happens)/
- A Long Trading strategy can be assessed between $1850-$1810 with invalidation below $1790.
- On the upside, one can see a rise of 3.8-4.5% towards $1920 as first level and would be vital to assess the situation as it might form double top and reverse. Thereby the risk parameters are high!
- It would seem that one should maintain a balanced risk to reward ratio and check use of leverage and position size to ride out current market conditions.
Note: ETH is now available in the futures market in both Go and Pro apps with up to 15x leverage.
An illustration of Leverage in Futures Market:
Trade ETH in Futures Market at CoinDCX
Trade ETH in Futures Market at CoinDCX Pro
Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The Content is for informational and educational purposes only. The Content is not an offer, or solicitation of an offer, to invest in, or to buy or sell any interest or securities or virtual digital assets or to participate in any investment or trading strategy.The Content or any part of it is not legal, financial, investment or tax advice. The calculations, data, risk return formulations, performance or market capitalization indicators are based on the independent data sourced by CoinDCX or third parties. Past performance is not indicative of any future results.
