- Possible resistance at $247.91
- This week’s highest: $252.22
- This week’s lowest: $218.63
- Last 1 months highest: $252.22
- Last 1 months lowest: $180.72
There is some resistance around $247.91. The next resistance sits at $252.39 in the daily chart.
There is no major resistance before $247.91, and if it is cross resistance, $252.39 will be the next strong resistance.
There is a downward movement expected from current levels. But If resistance of $247.91 is crossed, price is likely to move towards $252.39 levels and further to target resistance at $258.25. However, if Ethereum fails to cross the first resistance level, the price might settle around the next support levels at $237.57. If support of $237.57 is crossed, Ethereum price is likely to fall below to $231.71 level. It is difficult to comment on the trend seeing current resistance and support levels.
Newsherder’s ETH/USD Daily Price & Forecast of June 5, 2020 reveals that there is mixed sentiment of ETH price movement. If ETH is able to cross $247.91 levels, $252.39 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. ETH Hashrate Increases By 30% In 2020 Anticipating The Launch of Ethereum 2.0
In 2020, anticipating the launch of Ethereum 2.0, Ethereum’s hashrate increases by 30%/
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Ethereum developers and community members are discussing to increase the gas limit in light of continuing congestion on the Ethereum network. Average gas price has risen more than 3 times since early May.
3. OKEx Crypto Exchange Launches Options on Ether
Malta based cryptocurrency exchange OKEx rolled out option contracts on Ethereum’s ether (ETH) token on Thursday. Last Month, the biggest cryptocurrency exchange in the world, Binance, also launched Options on Ether.