Ethereum
Ethereum (ETH) Prediction for July 26
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The market is facing a rebound again, according to CoinMarketCap.
The best coins by CoinMarketCap
ETH/USD
Ethereum (ETH) price has increased by 2.62% over the past 24 hours.
Image of TradingView
On the hourly chart, ETH price is close to the local resistance level of $3,274. If buyers manage to hold the initiative gained until the end of the day, there is a chance to see a breakout, followed by a move towards the $3,300 area and above.
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On a broader time frame, buyers have not accumulated enough energy despite today’s rally. If the bar closes around current prices, we can expect sideways trading in the $3,200-$3,300 area until the end of the week.
Image of TradingView
From a medium-term price perspective, ETH price is far from support and resistance levels. Thus, the volume has dropped, which means that neither side is ready for a sharp move.
As a result, traders are unlikely to witness significant volatility in the near future.
Ethereum is trading at $3,253 at press time.
About the Author
Denys Serhiichuk
With over 5 years of trading experience, Denys has a deep understanding of technical and fundamental market analysis. He has notably launched his blog on TradingView where he publishes all the relevant information and makes predictions on the main cryptocurrencies.
Thus, his experience is strengthened by his work in leading blockchain-related companies such as W12, Platinum Listing, ATB Coin and others, and can be contacted at denys.serhiichuk@u.today.