Ethereum (ETH) Analysis - June 20, 2024
Current price: 3528.4 USD (↑ 1.30% in 24 hours)
Market value: 431.44 billion US dollars
Analysis summary:
* Short-term trend: volatile. Ethereum faced resistance at $4,000 last week and fell again. The general trend remains unclear.
*Technical indicators:
*ME indicator: Expanding, indicating a potential uptrend.
* Momentum indicators: mixed, indicating uncertainty.
*Basic factors:
* The Merge: Expected to happen in September 2024, it may have a positive impact on the price of Ethereum.
*Online activity: Still high, indicating continued demand for Ethereum.
Expectations:
* In the short term: Ethereum is likely to remain volatile, with significant ups and downs possible.
* Long term: Ethereum remains a promising project with significant growth potential.$ETH #FavoriteToken