Ethereum Forecast and Analysis July 8 — 12, 2024


Ethereum ETH/USD ends the trading week at 2871 and continues to move within the fall and left the bullish channel. Moving averages indicate a bullish trend for ETH/USD. Prices have broken through the area between the signal lines downwards, which indicates pressure from cryptocurrency sellers and a potential continuation of the fall from current levels. At the moment, we can expect an attempt to develop a price rise and a test of the resistance level near the 3195 area. From where we can again expect a downward rebound and a continuation of the fall in the rate and value of Ethereum with a potential target below the level of 1965.

Ethereum Forecast and Analysis July 8 — 12, 2024

An additional signal in favor of a decrease in ETH/USD quotes in the current trading week of July 8 — 12, 2024 will be a test of the support line on the relative strength index. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to reduce the value of the cryptocurrency in the current trading week will be a strong growth and a breakdown of the level of 3465. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes with a potential target above the level of 4045. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level 2605.

Ethereum Forecast and Analysis July 8 — 12, 2024

Ethereum Forecast and Analysis July 8 — 12, 2024 assumes an attempt to develop a bullish correction and test the resistance area near the level of 3195. Where can we expect a rebound downwards and a continuation of the fall of the cryptocurrency to the area below the level of 1965. An additional signal in favor of a decline in the Ethereum rate will be a test of the line trend on the relative strength indicator. Cancellation of the fall option will be a strong growth and a breakdown of the area of ​​3465. In this case, we should expect a continuation of the rise with a target above the area of ​​4045.


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