Ethereum price forecast – July 1
The price of Ethereum is approaching crucial support, and the price must keep the $ 2,200 level rising towards $ 2,500.
ETH / USD market
Resistance levels: $ 2900, $ 3100, $ 3300
Support levels: $ 1,600, $ 1,400, $ 1,200
ETH / USD is trading at 6.41% at the current price of $ 2130.99, a significant drop from the daily high of $ 2277 set today as the bulls tried to bring about a new rally. In the near future, however, the Ethereum (ETH) has found some support at the lower $ 2072 level, as it has recovered several times at these levels since the visit.
Ethereum price forecast: The price of Ethereum may fall more
After several upswings, the bear has bitten Ethereum (ETH) today as the coin price is currently falling. Prior to this, many traders expected a lot from the coin after touching the $ 2288 resistance level yesterday, reflecting an improvement in Ethereum prices. However The price of Ethereum is currently moving below the 21 – day moving average, which has not yet been achieved below the 9 – day moving average in the channel.
In addition, a downward drop may continue to roll the market toward the lower limit of the channel, and this could hit support levels of $ 1,600, 1,400 and $ 1,200, while a possible upward rise could drive the market above the upper limit of the channel to touch the $ 2,700 level. At the same time, $ 2,900, $ 3,100 and $ 3,300 can still provide market resistance levels. Therefore, the relative strength index (14) is facing the downside, and staying there would cause the coin to drop more.
Against Bitcoin, the market price remains within the channel as the bears try to step back into the market. ETH / BTC is currently traded on 6348 SAT and the bulls were unable to keep the price above the 9-day and 21-day moving averages. However, if the price of Ethereum continues to fall and exceeds the lower limit of the canal, the following key mounts may be 5600 SAT and below.
At the same time, any upward movement towards the upper limit of the channel is likely to push the market upwards. Once this is found, a resistance level of 7300 SAT and higher can be visited. On the contrary, the relative strength index (14) is trying to exceed below 50 levels, suggesting that the market may continue to decline.
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