- Possible resistance at $248.81
- This week’s highest: $252.22
- This week’s lowest: $214.8
- Last 1 months highest: $252.22
- Last 1 months lowest: $180.72
There is some resistance around $248.81. The next resistance sits at $252.79 in the daily chart.
There is no major resistance before $248.81, and if it is cross resistance, $252.796 will be the next strong resistance. However, it is likely to reject from this level as this week’s highest at $252 is the most difficult to cross right now.
There is a downward movement expected from current levels. If resistance of $248.81 is crossed, price is likely to move towards $252.79 levels. However, if Ethereum fails to cross the first resistance level, the price might settle around the next support levels at $237.12. If support of $237.12 is broken, Ethereum price is likely to fall below to $229.41 level.
Newsherder’s ETH/USD Daily Price & Forecast of June 4, 2020 reveals that there is mixed sentiment of ETH price movement. If ETH is able to cross $248.81 levels, $252.79 will be the next level to watch for. But, if ETH fails to cross $248.81, the price will be pushed under $240 at around $237.12 support levels.
1. Federal Reserve is Endorsing Ethereum-Backed Alternative To Libor
Federal Reserve Board’s Chairman, Jerome H. Powell said in a statement on May 28, 2020, regarding the suitability of AMERIBOR as a replacement to LIBOR. AMERIBOR uses a permitted version of Ethereum blockchain to capture the interbank lending rates.
2. ‘Careless’ Users Are Ruining Ethereum’s Privacy
Ethereum is losing its privacy, warns a new paper, as “careless” users make linking their addresses to real-world identities easy.
3 Ethereum Is Now Bitcoin’s Top Off-Chain Destination
The most popular way to use bitcoin off-chain is on Ethereum, recent data indicates.