Disclaimer: This analysis will be attempting to foresee changes in Ethereum’s price charts up to the 3rd week of June.
At press time, Ethereum’s price charts were seeing the formation of a bullish pennant that was nearing a breakout.
Considering another rally breaks out for Ethereum, the crypto-asset might successfully surpass its resistance at $252 and embark on its next target at $264.
The sentiment remains widely divided, but at the time of writing, Ethereum’s valuation was consolidating under the 1/1 line.
Thus, a drop down to $229 is quite possible if a bearish outcome takes place on account of this analysis.

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