Trading plan for Ethereum on June 24, 2022| FXMAG.COM

Relevance up to 15:00 UTC+2 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Technical outlook:

Ethereum climbed above the $1,225 high on Friday, indicating further upside potential towards $1,920 in the near term. The crypto is seen to be trading close to $1,210 at this point in writing and is expected to continue printing higher highs from here. Having said that, please note that the potential still remains for a drop to $995 first to be followed by a rebound.

Ethereum is now working upon its larger degree downswing carved between $4,850 and $880 in the long course of time. Initial resistance on the daily chart is seen at $1,920 and bulls are poised to break higher in the near term. Also, note that the upside potential remains towards $2,400 and up to $3,300 going forward.

Ethereum has pushed through $1,225 intraday. The potential remains for a lower degree upswing to be in place between $880 and $1,225. If the proposed structure holds well, prices might still decline towards the $995-1,000 zone before resuming the rally. Either way, traders might be preparing to hold long positions from here on.

Trading plan:

Potential rally through $1,920 and $2,400 against $880

Good luck!

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