Ethereum Price Analysis for June 12th – ETH Restoring After Sales

By Dmitriy Gurkovskiy, author at RoboForex Blog

On Friday, June 12th, the ETH price rate is growing again after the preceding major sales. It is generally trading at 233.83 USD.

On D1, the ETH/USD pair keeps correcting in a developing uptrend. The quotations are moving inside an ascending channel with periodic corrections. The pair is currently trading between 61.8% and 100.0% Fibo. The MACD remains above zero. Judging by all the factors, we may predict testing of the lower border of the ascending channel and further growth to the aim of 265.00 USD. However, the pair may still pull back to 61.8% Fibo.


On H4, the pair is also correcting in an uptrend. The Stochastic has formed another Black Cross, which may signal the continuation of the decline to the lower border of the channel. The aim of the decline might be at 220.00 USD. The pair may then proceed to 265.00 USD.


An event that attracted the attention of users happened in the Ethereum network. An unknown investor made a transaction of coins but the commission fee turned out awesome: 10668 ETh for transferring 350 ETH. In the dollar, the commission fee amounts to 2.5 million USD. The normal fee would be no higher than 0.30 USD.

Watchers note that this very user (how would they know if the user is anonymous?) has already paid such an abnormal commission fee. For example, they paid the same sum of 10668 ETH for transferring 133 ETH. The transaction proceeded to a Chinese mining pool SparkPool. According to the media, the pool representatives caught the coins, froze them, and are ready to return them to the owner.

The story, however, is not transparent. The market knows such situations but normally the receiver of the money would mark the transaction as erratic and give the money back to its owner.


Any predictions contained herein are based on the author’s particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.