Baxia Markets
June 30, 2021

Ethereum comes up short of the 23.6% retracement level

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The cryptocurrency had a four-day winning streak where it made more than 19%; however, the price came up short of the $2325 price level where our 23.6% Fibonacci retracement is.


The pair might have another attempt to reach this level in the short term; if this breakout is consolidated, we could see the beginning of a recovery for the cryptocurrency. If the price finds a resistance, it will likely bounce back to the $ 2,180's levels.

The Bollinger bands are wide, and the lower band is starting to point up, which is often a sign of an uptrend, but the price is starting to fall in today's trading session, currently, it is down 1.4%


ETHUSD June 29th 2021

The moving averages are not even close for a crossing, indicating that the general trend continues to be downwards; this will be the case until the price breaks the $3,035 level, which is our 50% retracement.

The relative strength index is at 46%, which will allow the price to move in either direction.


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