Issued on: 30th Jun’23
Valid upto: 06th July’23
Token: ETH
Category: Layer-1 Blockchain
Market Cap: $229 Billion
Circulating Supply: 120,220,157
Total Supply: 120,220,157
Price Update:
ETH price at the time of writing (30th June, 10:30) is $1885.62, with a 24-hour trading volume increased by 6.41% to $7 Billion. ETH price is up by 2.69% in the last 24 hours according to coinmarketcap.com.
Source: TradingView
Analyzing the above chart:
- In the 1-Day Timeframe, ETH is currently above both 55 EMA (Pink ) & 99 EMA (Blue), indicating a bullish trend. Additionally, it has been consistently finding support along an incline trendline.
- There is a supply zone at the $2124 level, which will act as a resistance and will be our main target for the bullish trend.
- The overall strength of the general market suggests a potential bullish outlook for strong coins like ETH in the medium to long term.
- A Long Trading strategy can be assessed between $1855-$1895 with invalidation below $1776
- On the upside, one can see a rise of 10-12% toward $2022 & 2124
- It would seem that one should maintain a balanced risk-to-reward ratio and check the 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.
Trade ETH in Futures market at CoinDCX
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