Ethereum (ETH) Price Prediction for June 6

The market is neutral at the end of the week, according to CoinMarketCap.

ETH/USD

Ethereum (ETH) is one of the biggest losers today, falling by 2.69% over the past day.

However, on the hourly chart, the picture is bullish. The rate of the main altcoin keeps setting new local peaks.

If the daily candle closes around the current prices or above, there is a chance to see a test of the $2,600 area soon.

On the longer time frame, the rate of ETH has made a false breakout of yesterday’s bar’s low. If bulls can hold the gained initiative, the correction might be postponed, followed by a test of the $2,600-$2,700 range.

From the midterm point of view, none of the sides is dominating. The volume keeps going down, which means there are low chances of witnessing sharp moves soon.

Ethereum is trading at $2,515 at press time.

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