The price of Etherrium suffered from the first few months of 2025 and caused a rapid and powerful return in the early second quarter of this year. “King of Altcoins” is much better than a few months ago, but ETH has not been especially impressed for the last few weeks.
The price of Etherrium has been fixed within the integrated range before it has fallen to a new swing over the past week. Late on Saturday, June 21, Altcoin's value fell to less than $ 2,300 with one movement, reflecting the market brewing sales pressure due to the increase in Asia.
Is the ETH price bind to $ 1,200 again?
On the June 21st post on the X platform, Chartered Market Technician (CMT) Akceel Kibar has drawn an interesting weak picture of Etherum price for the next few weeks. According to market experts, the price of ETH can be prepared for a significant downward exercise.
The reason for this weak projection is the price movement of the channel pattern that rises on the Etherum chart of the weekly period. The uphill -order channel is a technical analysis pattern featuring two main (upper sloping) trend lines. The bottom line connecting the swing height and the lowest line to connect the swing height.
Generally Ascendant channel pattern We suggest the sustainability of the rise price trend. But the ride of this channel can be used to identify trend reversal or continuous. For example, if a brake out occurs under the sub -trend line, it suggests that there may be a shift from the upward trend to the downward trend.
Source: @TechCharts on X
As can be seen in the chart above, this classification was the case of Etherrium prices when we surrendered to important weaknesses earlier this year. The value of Altcoin plunged to $ 1,200 in early April, witnessing a strong resurrection of more than $ 2,000.
Kibar argued that in his position on X, the optimistic propulsion, which seems to be the price of Etherrium, could be a simple re -examination at the broken sub -channel boundary. In this case, the price of ETH can be returned to $ 1,200 or less around the $ 900 area.
At a glance, Etherrium price
At the time of this article, the price of ETH is below $ 2,300 and reflects more than 5%decrease in the last 24 hours. According to Coingecko's data, Altcoin has been almost 9% reduced during the weekly period.
The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView
Istock's main image, TradingView chart
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