The Ethereum Current Price Is Around $1,730!

Key points:

• The weekly chart shows a bearish trend, with the Ethereum current price below the crossover point of EMA 21 and 50.
• The daily chart and the H4 candle chart give a hesitation at the support area between $1,720 and $1,760.

The Ethereum current price chart has been a topic of interest for investors and traders in the past few months. It has been a volatile ride, with the Ethereum current price chart shows fluctuating dramatically from day to day. However, the Ethereum current price seems to be holding steady at $1,730, which is still a significant value compared to its price last year.

The Ethereum current price in the chart we should know!

Weekly chart:

The Ethereum current price is below the intersection of the EMA 21 and EMA 50. And the previous candle is touching the uptrend line, which indicates the possibility of testing the trendline and bouncing back up. This week’s price line may retest half of the previous week’s candle and return to the $1,737 price range.

However, we can see that the buying force in the last week’s candle was very strong, creating a pin bar candle with a powerful buying force! That supports the bullish side. But the current price range is still below the intersection area, so we still tend to lean towards selling more. In case BTC has a negative sign in price, the candle will break the uptrend line and enter a downtrend.

Daily chart:

We can see that the candle on Saturday, June 17th has a strong selling force, and the price over the last two days has not fluctuated much, still hovering around the $1,730 price range. It is more noticeable that the candle is in a sensitive area at the intersection of the trendline and low trading volume. However, the candle is in the downtrend area. A slight pump is possible to test the EMA 50 and then continue to go down.

H4 chart:

The support zone of 1720 – 1760 is still there, and the price is currently in this area. The H4 candle shows hesitation in this support area. Right now, we are seeing the Ethereum current price accumulate bearish volume in preparation for another move down in the coming days.

Some factors that can make the Ethereum current price change!

At the time of writing, the ETH price is trading at $1,730. In a video shared widely across social media, the Securities and Exchange Commission Chair, Gary Gensler, says that the two most prominent cryptocurrencies, Ethereum and Bitcoin (BTC), are not securities.

The crucial documents revealed why then SEC Director Bill Hinman mentioned Bitcoin and Ethereum and let the XRP out of this category. However, Hinman’s speech indicated that a digital asset offered as a security can, over time, change into something other than a security. It highlighted that Ether was not a security even though it was launched through an initial coin offering (ICO).

It is mentioned that the internal departments had some second thoughts about stating Ethereum in the speech. Hinman drew opposition for the reason that he included Ether in the speech draft. However, he stated they have a call scheduled with Vitalik Buterin, Ethereum Founder, later that week in order to confirm the understanding of ETH foundations operations.

In conclusion, the Ethereum current price chart is showing a bearish trend, with the weekly, daily, and 4-hour charts all indicating a downward trend. Investors should be cautious and consider the current market conditions carefully before making any investment decisions.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to DYOR before investing.

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Kevin

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