Ethereum
Ethereum (ETH) Price Prediction for July 12
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Bulls do not appear ready to continue their upward movement, according to Coin Statistics.
ETH Chart by Coin Statistics
ETH/USD
The price of Ethereum (ETH) has fallen by 1.66% in the last 24 hours.
Image of TradingView
On the hourly chart, ETH price remains bearish as it returns to the local support level of $3,055. If the situation does not change by the end of the day, we can expect a breakout towards the $3,000 area.
Image of TradingView
On a broader time frame, one should pay attention to yesterday’s low. If the candle closes near or below, the decline could continue to the vital $3,000 area shortly.
Image of TradingView
From a medium-term perspective, the ETH rate is far from key levels, which means that neither buyers nor sellers are ready for a sharp move.
In this case, the most likely scenario is a continuation of sideways trading in the $2,900-3,100 area.
Ethereum is trading at $3,074 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.