Ethereum started trading at a higher rate of 2.84% during the day (started at $231.55 towards $240) and thus considered one of the winners at the beginning of the month.
The outlook for June appears positive, as there is a lot of news that could push the price up:
- Ethereum (ETH) 2.0: It is not known at the time of launch of the update which may add a lot to ETH to become a complete and viable system able to bypass the market.
Initial estimates indicate that it is possible to launch during this month or next month, which enhances investor confidence, and hence the possibility of a price increase.
- second-best cryptocurrency: ETH started 2020 trading at $130 and today prices at $240.
- Binance Inflows: Based on these analyzes, Total ETH inflows into Binance wallets increases, which gives an indication of how the movement of the big players.
Technical Analysis:
above the 61.8% Fib retracement level of the last swing high at $291 to a swing low at $120.
trading above the 50-day SMA and the 100-day SMA
The possibility of more gains is likely, but we may see some corrections in the coming days.
Source:
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