Ethereum Price Prediction – July 11
The Ethereum price action is currently breaking above the $2000 barrier as the coin eyes glued on $2200.
ETH/USD Market
Key Levels:
Resistance levels: $2600, $2800, $3000
Support levels: $1700, $1500, $1300
ETH/USD is seen refreshing to a new high after touching the daily low of $2081 to breaches above $2150 while currently trades at $2162 with a bullish crossover above the 21-day moving average. On the contrary, the bears may attempt to increase selling pressure near the $1,800 level but the bulls could collect more on the price dips.
Ethereum Price Prediction: ETH Price May Push Higher
The Ethereum price can only maintain the uptrend if the $2200 subsidy is maintained at all costs. Currently, the technical indicator Relative Strength index (14) is likely to cross above 50-level by sending bullish signals into the market which can finally encourage more buyers to enter the market. However, the Ethereum (ETH) is now making an attempt to cross above the 9-day moving average.
Meanwhile, in as much as the red-line of 9-day MA remains above the green-line of 21-day MA, the coin may begin to do well and the Ethereum price can cross above the upper boundary of the channel to hit the resistance levels at $2600, $2800, and $3000 respectively. More so, if the technical indicator decides to make a quick turn back below the 21-day moving average, then, there may be a quick bearish drop which may likely roll the market down to the support levels of $1700, $1500, and $1300 respectively.
When compares with Bitcoin, Ethereum is trading within the 9-day and 21-day moving averages as the price hovers at 6278 SAT. Meanwhile, the technical indicator Relative Strength Index (14) is moving below 50-level. Moreover, for the fact that the market price remains at the downside, the pair seems to be moving sideways before deciding on the next direction.
Moreover, the daily chart reveals that the potential resistance level is located at 6800 SAT and above but a lower sustainable move may likely cancel the bullish pattern which could attract new sellers coming into the market with the next focus on the support level of 5700 SAT and below.
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