Full article: Ethereum Price Analysis
Ethereum is down four percent in the last 24 hours but prices are still bottoming up from recent lows. Even so, although prices are printing higher with favorable trading volumes, sellers are still in control. This overview is valid as long as prices trend below $1.25k, the immediate liquidation level.
Aggressive traders may bank on the double bar bullish formation of June 18 and 19 to load the dips, expecting more gains in the short term.
However, whether buyers would flow and take charge of price action is dependent on if bulls can double down, pumping prices to the first buy target at $1.25k. A close above this level could embolden buyers, pumping prices to $1.7k.
Conversely, if there is a sell-off from spot levels, forcing ETH below $1k, it will be highly likely that the coin may slide below last week’s lows at $890 in a bear trend continuation formation.