Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
bitcoin
Bitcoin (BITCOIN)
$118,230 -0.70%
ethereum
Ethereum (ETHEREUM)
$3,798 -0.64%
binancecoin
BNB (BINANCECOIN)
$826.02 -0.76%
solana
Solana (SOLANA)
$184.64 -1.32%
ripple
XRP (RIPPLE)
$3.16 -1.36%
shiba-inu
Shiba Inu (SHIBA-INU)
$0.000013 -4.47%
pepe
Pepe (PEPE)
$0.000012 -4.50%
bonk
Bonk (BONK)
$0.000033 -1.23%
Disclosure
Cryptocurrency trading is speculative and your capital is at risk when you trade. We may earn affiliate commissions from some of the products on this page - at no extra cost to you.
Ethereum Price Analysis: Will The Bulls Trigger A Bullish Reversal?

The Ethereum price has slumped 3% today, with the ETH/USD trading at $3,312, raising concerns about potential further selling. Despite a sharp decline, its 24-hour trading volume has skyrocketed 31% to $13 billion, suggesting intense market activity.

This comes as Nate Geraci, the president of ETF stores, hints that the ETH ETFs will go live by mid-July. Geraci has mentioned that after the revised S-1 submissions, the SEC’s final approval could come by July 12. 

Advertisement

Banner

Moreover, according to K33 Research, Ethereum will most likely outperform Bitcoin after the ETF launch.

The price of Ethereum could be bolstered by inflows into upcoming U.S spot ETFs, while Bitcoin faces headwinds from Mt. Gox creditor repayments.

Ethereum Statistical Data

Based on Coinmarketcap data:

  • ETH price now – $3,312
  • ETH market cap – $397 billion
  • ETH total supply – 120 million
  • ETH circulating supply – 120 million 
  • ETH ranking – #2

At the end of June, the ETH bulls showed some resilience as they pushed the Ethereum price to the $3,532 level. However, at the beginning of this month, the bears stepped in, driving the price downwards, as the bulls found support at around $3,283, preventing further losses. This has resulted in the formation of a double bottom pattern in the four-hour chart analysis. 

This technical formation hints at a possible bullish reversal in the ETH price market. Moreover, the bulls are poised for recovery, as a green candlestick has closed at around $3,318 at the time of writing. 

Ethereum Price
Dextool.io: ETH/USD 4-hour chart

The Relative Strength Index(RSI) remains subdued below the 50-mean level. However, it is showing signs of recovery, as it has rebounded from the 30-oversold zone, currently at 35, hurtling towards the north. Increased buying pressure could push the RSI above the 50-mean level, suggesting a bullish outlook in the ETH market.  

The Moving Average Convergence Divergence (MACD) is hovering in negative territory. The blue MACD line has crossed below the orange signal line, a negative signal suggesting intense selling pressure. Moreover, the histogram bars flash red, indicating growing bearish strength. 

On the other hand, the ETH price is trading below the 50-day and 200-day SMAs, reinforcing the bearish outlook in the ETH market. The ETH bulls have found immediate resistance at $3,408 and $3,563 levels (50-day and 200-day), respectively. This outlook suggests that the sellers have the upper hand in the Ethereum price market. 

Ethereum Price Prediction

Currently, the ETH price is trading on a bearish trend. However, the bulls seem ready for a recovery and could notably take advantage of the governing pattern. Additionally, the RSI has rebounded from the 30-oversold region, giving the Bulls some hope of flying the ETH price to the 70-overbought zone. 

Moreover, if the bulls capitalize on the double-bottom technical pattern, they could trigger a bullish reversal rally, pushing the ETH price to higher levels. If the buyers attempt to flip the $3,408 resistance mark to support, they could grow hind wings, propelling the price to around the $3,879 mark, invalidating the bearish thesis. 

Conversely, if the bears exert more pressure at this level, the token may drop, breaching the $3,246 support level. In such a scenario, the ETH price will sink, retesting the $3,200 mark.

Read More

BC.Game

Buy Cryptos on eToro banner

Advertisement

Banner

Advertisement

Banner

Advertisement

Banner