Ethereum Technical Analysis Report 11 June, 2021

• Ethereum reversed from resistance area
• Likely to fall to support level 2260.00

Ethereum continues to decline after this cryptocurrency failed to break above the resistance area lying between the key resistance level 2893.00 (which has been reversing the price from the middle of May) and the 38.2% Fibonacci correction of the previous sharp downward correction 2 from the start of last month. The downward reversal from this resistance zone started the active corrective wave (b).

Given the worsening sentiment seen across the cryptocurrency markets today – Ethereum cryptocurrency can be expected to fall further toward the next support level 2260.00 (which has been steadily reversing the price in the last few trading weeks).

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