Ethereum Price Prediction – July 25
The Ethereum price is down at 0.75% at the time of writing as the coin goes below the opening price of $2186.
Resistance levels: $2500, $2600, $2700
Support levels: $1800, $1700, $1600
ETH/USD breaks below $2196 after an unsuccessful attempt to settle above the upper boundary of the channel during the European session. At the time of writing, the Ethereum (ETH) is changing hands at $2169, down 0.75% after touching the daily high of $2196. For the past few days, bulls have so far been pushing the market price above the 9-day and 21-day moving averages; hoping to touch the potential $2300 resistance level.
Ethereum Price Prediction: Ethereum Price Could Spike Above $2200
According to the daily chart, a break above the resistance level of $2200 could most likely give the Ethereum price a boost towards the important resistance at $2500, $2600, and $2700 levels. On the downside, the technical indicator Relative Strength index (14) has a bearish feel after touching 55-level. However, the first support lies at $2000 this is if the $2100 level failed to hold in the session after opening today.
Meanwhile, if the coin dives below the 9-day and 21-day moving averages, the Ethereum price could revisit $2000 support. Nevertheless, the market price may keep following the upward movement immediately after the 9-day moving average crosses above the 21-day moving average. More so, the critical support levels are located at $1800, $1700, and $1600 which are towards the lower boundary of the channel.
Against Bitcoin, the Ethereum price is clearly bearish as the price keeps falling. Therefore, the sellers are currently posing an additional threat for buyers to drag the Ethereum price below the 21-day moving averages where it could easily cross below the 9-day moving average.
Meanwhile, the continuation of the downtrend could hit the main support at 6000 SAT before touching to 5700 SAT and below. Meanwhile, a bullish trend may likely take the market price to the potential resistance of 6900 SAT and above if a rebound plays out. The technical indicator Relative Strength index (14) is currently confirming the bearish movement as the signal nosedives below the 55-level, suggesting more bearish signals in the market.
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