Ethereum (ETH) Price Prediction and Analysis in June 2020

We will be looking at some of the historical prices and market opinions for ETH so that we can create an Ethereum price prediction for June 2020.

Ethereum Overview

Ethereum is a popular altcoin, as well as the most used smart contract and dapp platform in the industry.

ETH is the platform’s native crypto, which is ranked as number two according to a market capitalization of $27,068,218,323 and a trading price of $243.26, with a decrease of 0.44%. There are currently 111,273,343 ETH in circulation. A total volume of $8,453,844,609 worth of ETH has been traded in the last 24 hours.

Ethereum Price Prediction: Analysis

Ethereum has had a positive performance against Bitcoin over the past two weeks, increasing from 0.02 BTC to 0.025, signifying a gain of 25%. The coin started out May at around $200 and steadily grew towards the end of the month. On May 29^th, the charts showed a spectacular breakout above the $219 level of resistance, which would continue with a new wave of gains.

On May 30^th, ETH hiked from $220,72 to $243,94 and closed the day at $242,35. On June 1^st, Ethereum reached a new high of $248,24, and on June the 2^nd, it broke past the $250 resistance, reaching $252,22, but it failed to keep these new gains and corrected itself to $237,22.

On June 3^rd, ETH was traded against the $247 level, which was the highest value the coin had prior to the March price crash. The next day, Ethereum traded without many fluctuations, mostly in the lower part of the $240 price range.

June 5^th saw the ETH/USD pair go from $243.25 to $246. The price recovered from the support offered by the upward trending line. The current low volatility and volume indicated that there will be no fast price hikes in the near term.

Source: Forexcrunch

The current pivot, resistance, and support levels calculated by WalletInvestor are:

• Resistance Level (R3): 256.887
• Resistance Level (R2): 251.408
• Resistance Level (R1): 247.879
• Pivot Point: 242.400
• Support Level (S1): 238.871
• Support Level (S2): 233.392
• Support Level (S3): 229.863

Developments

The ETH ecosystem has been making great progress with Ethereum 2.0 in the last days and weeks. While ETH 2.0 will not begin at the end of July as initially projected, Vitalik Buterin recently assured the community that the Proof of Work consensus to Proof of Stake transition will begin this year.

At the end of April, the Topaz test network was launched, and it will be active for a total of 3 months before the activation of ETH 2.0. The ETH 2.0 mainnet is expected to have a similar configuration to Topaz.

Top exchange Binance recently introduced option contracts for Ethereum and XRP, with the smallest contract size for Ethereum being 0.001 ETH and the maximum – 200 ETH.

Ethereum Price Prediction: Market Opinion for June 2020

Several crypto prediction sites have published their own Ethereum price prediction for June 2020, and in order to showcase a precise representation of the market sentiment around this coin, we decided to integrate some of the most relevant ones.

Longforecast

Longforecast foresees that ETH will have a maximum price for June of $320, while the minimum price has been estimated at $222. The month’s average price was projected at around $263. It is expected that ETH will have a closing price of $277, change for June 19.4%.

Digitalcoinprice

Digitalcoinprice’s Ethereum price prediction for June places the coin at a value of $272.87, meaning a hike of 10.74%.

Coinpredictor

Coinpredictor sees a decrease of -1.4% in the next day, placing ETH at $234.48. The site forecasted that, in the next 7 days, the price of ETH will be $242.57, with a +2% increase. Towards the end of June, ETH is predicted to be around $214.27, meaning a change of 9.9%.

WalletInvestor

WalletInvestor made predictions for the next 10 days of June, along with the minimum and maximum values of each particular day.

Gov.capital

Gov.capital predicted that Ethereum will be valued at around $273 by the end of June, with a maximum price of $300 and a minimum price of $246.

Cryptorating

Cryptorating’s Ethereum price prediction for the next day is $ 273.62, with a change of 10.9%. The site estimates that, in one week, the coin will trade at $286.69, which means an increase of 16.2%. Towards the end of the month, ETH is expected to close at $349.91, with an increase of 41.82%.

Cryptoground

Cryptoground projected that, in one day, ETH will have $201.1750, with a change of -18.12%. In a week, the price of ETH is anticipated to be around $204.6000, with a change of -16.72%. ETH is expected to have a closing price of $202.7734, which signifies a change of -17.46%.

30rates

30rates issued an Ethereum price prediction for every day of June (without the weekends), along with the minimum and maximum prices of each day. The site foresees that on the last day of June, ETH will have a minimum of $258, a maximum of $296, and a closing price of $277.

Altcoinforecast

Altcoinforecast expects that on June 30th, ETH will be changing hands at 197.2894.

Ethereum Price Prediction: Verdict

We have reached the conclusion of our Ethereum price prediction for June 2020. We hope that the material we offered here will be of help to you in your upcoming ETH trading actions. From what we could notice, the price of ETH will not see major jumps in the near term.

Featured image: coindesk.com

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