Ethereum is moving in lockstep with Bitcoin. The short-term upside correction is capped by 61.8% Fibo. ETH/USD is changing hands at $515, 4% lower on daily basis. The second largest coin with current market value $51.8B and average trading volumes $1.5B, topped at $548, on June 19. The sell-off started during early hours on Friday without clear reason apart from speculative positioning. Ethereum has been moving in lockstep with Bitcoin and other major coins. It has lost over 20% on monthly basis, and 30% since the beginning of the year. Ethereum is not a worst-performer of the cryptocurrency universe, while recent SEC’s decision not to qualify it as a security removed a major threat for the investors. From the short-term point of view, ETH/USD is moving within a channel, limited by $539 (61.8% Fibo) and $460 (78.6% Fibo). A clear movement in either way will create a strong momentum with ulitmate bearish target at $359 and ultimate resistance at $600. ETH/USD, the daily chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next EUR/USD Technical Analysis: Euro extends run above 1.16 as markets shortchange the Greenback FX Street 3 years Ethereum is moving in lockstep with Bitcoin. The short-term upside correction is capped by 61.8% Fibo. ETH/USD is changing hands at $515, 4% lower on daily basis. The second largest coin with current market value $51.8B and average trading volumes $1.5B, topped at $548, on June 19. The sell-off started during early hours on Friday without clear reason apart from speculative positioning. Ethereum has been moving in lockstep with Bitcoin and other major coins. It has lost over 20% on monthly basis, and 30% since the beginning of the year. Ethereum is not a worst-performer of the cryptocurrency universe, while… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
