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Top Ethereum (ETH) Price Predictions as of Late

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The second-largest cryptocurrency has staged a minor resurgence over the past week, while numerous analysts believe a much more substantial pump could be on the way.

Certain technical indicators support the bullish outlook and may indeed set the stage for a more meaningful recovery.

Is ETH Ready to March?

After the devastating June lows, the bulls clawed back some of the losses and even briefly pushed the price above $1,800 over the weekend. However, the bears offered strong resistance, and ETH currently trades at around $1,750 (per CoinGecko), representing a 1% increase for the past week.

According to X user Ted, such a level can be considered a good sign and shows that sellers no longer dominate. He believes that holding above the $1,750 support zone is crucial and could open the door to a rally towards $2,000.

Michael van de Poppe was even more optimistic, expecting the next breakout to push ETH to $2,500. For their part, AlΞx Wacy claimed that the asset needs to break above a certain descending trendline that has historically fueled 250% pumps in weeks. The analyst pointed out that this critical threshold sits at around $1,880.

Altcoin Sherpa gave their two cents, too. While noting ETH’s price decline over the last several months, the analyst opisano . it as “pretty attractive” in the short term with potential to climb to around $2,500.

Ali Martinez also chipped in, vowing to open a long position in ETH if its price surpasses $1,850. It is important to note that his previous take on the asset was rather bearish, outlining that its TD Sequential indicator flashed a sell signal and that could be followed by a plunge to as low as $1,700.

The Bullish Metrics

ETH’s Relative Strength Index (RSI) reinforces the predominant optimism shared by the aforementioned analysts. The technical analysis tool, whose ratio runs from 0 to 100, has fallen to around 30, indicating that the asset has entered oversold territory and could be on the verge of a rally. Conversely, readings above 70 are interpreted as pre-pullback signals.

ETH RSI
ETH RSI, Source: RSI Hunter

Next on the list is the declining amount of ETH stored on exchanges. Today (July 13), the figure dropped to a nearly ten-year low of around 15.3 million units. Fewer coins on centralized platforms usually result in reduced immediate selling pressure.

ETH Supply on Exchanges
ETH Supply on Exchanges, Source: CryptoQuant

 

Prispevek Top Ethereum (ETH) Price Predictions as of Late appeared first on CryptoPotato.

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