#Ethereum = Daily Analysis + Forecast = 24.06.2021 #ETH $ETH #investing #charts #trading #cryptocurrency

Over three days $ETH tried to start a rally off the 200 MA. However, it looks like it’s run out of steam. If tomorrow ETH does not hit 2070-2100, the decline would resume. Let’s explore the hypothesis from the different angles.

Monthly
The High-Wave Doji of May is waiting for confirmation of trend. The RSI and MACD were at All Time High, but are definitely moving down now. PSAR flipped bearish 2 days ago. A monthly close below $1740 would confirm a strong multi-month bearish trend.
Odds: Bearish

Weekly
The previous week confirmed the trend. If this week closes below ~$1970-1950, there will be a high chance of extended decline.
Odds: Strong Bearish

Daily
The daily candles are stuck between 8 EMA and 200 MA lines. The volume is weakening and the price is at the upper boundary of the possible downward channel. The candles structure suggests that a large red candle could be made in the next few days.
Odds: Bearish

Forecast

If ETH breaks downwards through the 200 MA line in the next few days, it would open the target area $1000-1200 with a possibility of as low as ~$300.

Overall, ETH remains under significant bearish pressure on all frames. So far, no candle structure signals a bullish reversal.

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Previous Weekly:

Previous Monthly:

The call on May 16:

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