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  • ETH/USD is trading at $241 at the time of writing but the daily 12-EMA is still defended.
  • Ethereum remains in a daily uptrend and will try to hold the $240 support level.

Ethereum is basically still in a daily uptrend but the bulls are losing some ground after a pretty significant rejection yesterday on June 10. The daily 12-EMA will act as a support zone again at $239.63. Bulls are not necessarily too worried even if the $240 level is lost as it wouldn’t be the first time during this uptrend that ETH has lost the daily 12-EMA.

ETH/USD 4-hour chart

ETHUSD

The current price of Ethereum is below the 12-EMA and the 26-EMA on the 4-hour chart. Both EMAs are close to $244. Besides $240, Ethereum has more support at $237.01 and $234.60. ETH has been trading sideways for the majority of the last week and there isn’t a clear trend that the digital asset is following in the short-term.

The bulls need to stay above the EMAs if they want to attempt to break $250 again. There is still a chance to form a bullish reversal candlestick if the bulls can push Ethereum above $244 again.

ETH/USD technical levels

 

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