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#Will ETH follow Bitcoin price trajectory upon its ETF trading available?
p:1
Here is an analysis of the Ethereum (ETH) cryptocurrency for the coming week:
**Ethereum Price Outlook for the Week of June 5, 2024**
The Ethereum network and its native token, Ether (ETH), are poised for an eventful week ahead. After experiencing a moderate decline over the past few weeks, Ethereum is showing signs of regaining momentum.
**Technical Analysis:**
- The Ethereum price is currently trading around $1,900, having bounced off support near $1,850. This suggests that the recent dip was likely a healthy correction within the broader uptrend.
- The 50-day and 200-day moving averages remain in a bullish cross, indicating positive medium-term sentiment.
- Key resistance levels to watch are $1,950 and $2,000. A break above $2,000 could open the door for a move towards $2,100-$2,150.
- On the downside, support is expected around $1,850 and the 200-day moving average near $1,800.