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Ethereum (ETHUSD) Price Loses Momentum – Forecast for June 20, 2024

by Jennifer

Ethereum (ETHUSD) Price Analysis

Expected Scenario

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Ethereum (ETHUSD) is currently fluctuating around the EMA50, with the stochastic indicator losing its positive momentum and beginning to show negative overlap. This suggests a potential motivation for the price to resume its anticipated bearish trend on an intraday basis, targeting the initial level at $3360.31. Further downside movement could extend towards $3132.80 upon a break below the initial target.

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It is crucial for Ethereum to hold below $3641.82 to sustain the expected decline. However, breaching this level would indicate a potential return to the main bullish trend, with targets set at $3825.00 and $4000.00.

Expected Trading Range

For today, the expected trading range for Ethereum (ETHUSD) is between the $3400.00 support and the $3660.00 resistance.

Trend Forecast: Overall Bearish

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