As a seasoned crypto investor with years of experience under my belt, I’ve learned to keep a keen eye on market fluctuations and price movements. The unpredictability of the crypto market is no secret, but understanding trends and patterns can help mitigate potential losses and maximize gains.
Some coin prices continue to climb upwards, whereas the prices of others have fallen back into negative territory based on the data provided by CoinMarketCap.
ETH/USD
The price of Ethereum (ETH) has barely changed compared to the previous day. However, there’s been a notable increase of around 9.61% over the past week.
On the hourly chart, Ethereum’s price appears to have mistakenly surged past its immediate support level of $3,483. Should the daily closing price hover around this point, a decline toward the $3,450 region is likely imminent.
Regarding the long-term perspective, it’s essential to keep an eye on the significant resistance level at $3,547. Should this level be breached during market action, the built-up momentum could potentially propel prices further upwards towards the $3,600-$3,700 price range.
From the midterm point of view, bulls are trying to hold the gained initiative.
If the weekly candle ends near its current price level, there is potential for additional price increases before the month concludes.
Ethereum is trading at $3,502 at press time.
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2024-07-21 17:11