Daily Price Outlook

• Ethereum is consolidating in a range between $1,845 and $1,945.
• Significant resistance is challenging Ethereum at the $1,935 level, marked by a triple-top pattern.
• Watch out for a potential breakout above $1,935, which could propel Ethereum towards $2,015 and higher. Conversely, a breakdown below $1,845 may trigger selling pressure towards $1,756 or $1,669.

Let’s dive into the exciting world of Ethereum trading against USDT! Currently, Ethereum is in a neutral stance, showing off its range-bound moves between $1,845 and $1,945.

On the daily timeframe, it’s facing a tough opponent at the $1,935 level, marked by a triple-top pattern. The candles near this level are sending signals that the bullish energy might need a breather and the buyers could use a timeout.

To add to the excitement, the relative strength index (RSI) and moving average convergence divergence (MACD) indicators are enjoying their time in the neutral zone. After breaking through a downward trend line that previously acted as a major hurdle around $1,845, Ethereum has a lot to prove.

Right now, all eyes should be on the $1,935 level. If Ethereum can break through this resistance, it might unleash a thrilling surge towards $2,015 or beyond, with a potential target of $2,126.

On the flip side, if the bears take control and Ethereum breaks below $1,845, it could trigger some selling pressure, targeting levels around $1,756 or even $1,669.

Get ready for the Ethereum rollercoaster ride today!

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Idea

Entry Price – BuyStop 1950

Take Profit – 2120

Stop Loss – 1820

Risk to Reward – 1: 1.130

Profit & Loss Per Standard Lot = +$170/ -$130

Daily Price Outlook

In a surprising twist, an inactive Ethereum whale has come back to life, making a significant transfer of 7,998 ETH, equivalent to $15.18 million. This address, which had remained dormant for six years, received 50,000 ETH from an ICO participant in 2017.

This isn’t the first time the address has shown activity, as it previously received 50,000 ETH in March 2017 and made subsequent transfers to the Kraken exchange.

These movements suggest a history of strategic selling by the address holder. The awakening of this whale raises concerns about its potential impact on the Ethereum price rally. Similar instances in the past have led to market volatility.

While the Ethereum price initially experienced a 14% drop after the last awakening of such whales, caution is advised to avoid overestimating the potential risks if more whales emerge.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Idea

Let’s explore the thrilling realm of Ethereum trading against USDT! Currently, Ethereum is demonstrating a neutral position, showcasing its range-bound movements between $1,845 and $1,945.

On the daily timeframe, it is encountering a formidable opponent at the $1,935 level, characterized by a triple-top pattern. The candles around this level are indicating that the bullish momentum might need a break, and the buyers could benefit from a pause.

Adding to the excitement, the relative strength index (RSI) and moving average convergence divergence (MACD) indicators are comfortably situated in the neutral zone. Breaking through a previous significant hurdle around $1,845, Ethereum has a lot to prove.

The focus now lies on the $1,935 level. If Ethereum successfully surpasses this resistance, it could unleash a thrilling surge towards $2,015 or even higher, with a potential target of $2,126.

However, if the bears gain control and Ethereum drops below $1,845, it could trigger selling pressure, targeting levels around $1,756 or possibly $1,669.

Prepare yourself for an exhilarating Ethereum rollercoaster ride today!

Daily Price Outlook

Ethereum is currently priced at US$1,732.08, with a 24-hour trading volume of $5.22 billion. Over the past day, ETH has experienced a slight decline of 0.43%.

The seven-day high of $1,760.91 remains 1.64% away, while the seven-day low of $1,628.66 is 6.35% away. The current supply of Ethereum stands at 120.21 million ETH.

Optimism Emerges as Leading Ethereum Layer 2 Solution

The SEC’s crackdown on Ethereum Layer 2 scaling solutions has intensified competition in the market. Previously, MATIC from Polygon Network held the title of the largest Layer 2 scaling solution.

However, Optimism (OP) has gained significant traction, witnessing a surge in active addresses. Crypto intelligence trackers highlight a decline in everyday user activity on the MATIC network, indicating potential dominance of OP in terms of usage and user approval.

Ethereum Price at a Crucial Juncture

Ethereum’s price has surpassed the $1,703 support level, but it remains uncertain if this marks the start of a recovery rally. If ETH fails to maintain support, a retest of the daily inefficiency range between $1,478 and $1,563 is anticipated.

Such a change could result in a 9.30% decrease in the price of Ethereum. However, if Ethereum maintains its position above $1,703, bullish sentiment may prevail, with resistance levels at $1,817 and $1,853 becoming potential targets.

Cardano Unveils Version 8.1.1, Boosting ADA Price Recovery

Cardano (ADA), known as an Ethereum competitor, recently faced SEC classification as a “security.” This led to a sharp decline in ADA’s price, and the altcoin has been striving to recover since June 5.

The creators of Cardano’s blockchain have now allowed Staking Pool Operators (SPOs) to update to the latest Node 8.1.1 on the mainnet. This development is expected to catalyze ADA price growth and support its recovery efforts.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Technical Analysis

Taking a look at Ethereum’s technical indicators, we see a strong bullish bias as it bounces off the critical support level of $1,700, represented by the exponential moving average.

Ethereum recently broke through the triple top pattern at $1,775, indicating a bullish surge towards the next resistance level at $1,841. The presence of a descending trend line on the four-hourly timeframe adds weight to this resistance level.

However, a bearish correction may be triggered if candles close below $1,840, potentially leading ETH/USDT to find support at $1,800 or even lower at $1,775.

On the flip side, a bullish breakout above $1,840 could propel Ethereum’s price towards the next target level of $1,916.

It’s worth noting that the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have entered the overbought zone, suggesting a potential slowdown in bullish momentum and a possible opportunity to short ETH below the $1,840 level.

In summary, $1,840 holds great significance as today’s pivotal point, warranting close monitoring. Traders should consider a sell position below this level and anticipate a buy position above it.

Daily Price Outlook

• Ethereum's technical indicators show a strong bullish bias as it rebounds from the critical $1,700 support level, surpassing the triple top pattern at $1,775 and targeting resistance at $1,841.
• A bearish correction may occur if candles close below $1,840, potentially leading to support levels at $1,800 or $1,775 for ETH/USDT.
• A bullish breakout above $1,840 could drive Ethereum towards the next target level of $1,916, but caution is advised as the RSI and MACD indicate potential overbought conditions, offering a chance to short ETH below $1,840.

Taking a look at Ethereum's technical indicators, we see a strong bullish bias as it bounces off the critical support level of $1,700, represented by the exponential moving average.

Ethereum recently broke through the triple top pattern at $1,775, indicating a bullish surge towards the next resistance level at $1,841. The presence of a descending trend line on the four-hourly timeframe adds weight to this resistance level.

However, a bearish correction may be triggered if candles close below $1,840, potentially leading ETH/USDT to find support at $1,800 or even lower at $1,775.

On the flip side, a bullish breakout above $1,840 could propel Ethereum's price towards the next target level of $1,916.

It's worth noting that the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have entered the overbought zone, suggesting a potential slowdown in bullish momentum and a possible opportunity to short ETH below the $1,840 level.

In summary, $1,840 holds great significance as today's pivotal point, warranting close monitoring. Traders should consider a sell position below this level and anticipate a buy position above it.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Idea

Entry Price – Sell Below 1835

Stop Loss – 1885

Take Profit – 1698

Risk to Reward – 1 : 2.75

Profit & Loss Per Standard Lot = +$1370/ -$500

Profit & Loss Per Micro Lot = +$137/ -$50

Daily Price Outlook

Ethereum (ETH) is stepping up its game with an exciting new development called “Ethscriptions.” Following in Bitcoin’s footsteps, Ethereum is launching its own NFT inscription project, adding a splash of creativity to the blockchain world.

Middlemarch, the co-founder of Capsule 21, coined the term “Ethscriptions” and revealed that users could create and distribute digital works using call data from Ethereum transactions. Get ready for a whole new level of artistic expression!

But wait, there’s more! Ethereum’s transaction fees are making headlines. Ethereum has been sporting the highest fees in town compared to its competitors.

According to Crypto Fees data, daily fees skyrocketed to a whopping 4.6 million, with the weekly average fees soaring above 4.3 million. It seems like Ethereum wants to make a grand entrance, but those fees might need some fine-tuning.

Amid all this excitement, Ethereum’s price is facing some backlash from institutions. The recent decision by the US Federal Reserve (Fed) to keep interest rates unchanged has caused a dip in the prices of Ethereum and the leading cryptocurrency, Bitcoin.

Institutions are feeling bearish and taking a breather, opting to wait for a potential recovery instead of riding the roller coaster of uncertainty.

And let’s not forget about Ethereum’s price, which has hit a three-month low. After losing support at the $1,700 level, Ethereum’s price took a further tumble on this week’s charts.

The crypto market faced turbulence as regulatory actions targeted Binance and Coinbase, while the Fed held interest rates steady at 5% to 5.25%. It’s a wild ride out there!

So, get ready to groove with Ethereum’s NFT party, keep an eye on those fees, and hold tight as the price adventure continues. Ethereum is making waves in the crypto world, bringing excitement, creativity, and some occasional bumps along the way.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Technical Analysis

On the 24-hour dancefloor, Ethereum has reached a make-or-break moment, completing a groovy 50% Fibonacci retracement around the $1760 zone. This level has transformed into a formidable triple-top pattern, becoming a major hurdle for Ethereum’s upward groove.

The arrival of an inverted hammer candlestick at $1760 adds a bearish twist, signaling a weakening of buying pressure and the potential rise of dominant sellers.

Amidst the dancefloor, Ethereum is showing off some mixed moves with the appearance of doji and spinning top candles. These funky patterns reflect investor indecision and uncertainty, as both the bulls and the bears battle it out for control.

This cautionary vibe adds to the groovy sentiment surrounding Ethereum’s price sway. When it comes to the technical groove, Ethereum is likely to sway further downward, especially if it struggles to break convincingly above the $1760 level.

The next spot for potential support can be found around $1690, where eager buyers might bust out their moves to stabilize the price and regain control.

In a nutshell, keep your eyes locked on the $1767 level, as it holds the power to dictate Ethereum’s next moves on the dancefloor.

Daily Price Outlook

• Ethereum faces a critical challenge as it completes a 50% Fibonacci retracement at $1760, with a triple-top pattern forming as a major hurdle.
• Mixed signals emerge for Ethereum with the presence of doji and spinning top candles, reflecting investor uncertainty and cautious sentiment.
• Technical indicators such as RSI and MACD remain bearish, indicating the potential for further downside movement in Ethereum’s price.-

On the 24-hour dancefloor, Ethereum has reached a make-or-break moment, completing a groovy 50% Fibonacci retracement around the $1760 zone. This level has transformed into a formidable triple-top pattern, becoming a major hurdle for Ethereum’s upward groove.

The arrival of an inverted hammer candlestick at $1760 adds a bearish twist, signaling a weakening of buying pressure and the potential rise of dominant sellers.

Amidst the dancefloor, Ethereum is showing off some mixed moves with the appearance of doji and spinning top candles. These funky patterns reflect investor indecision and uncertainty, as both the bulls and the bears battle it out for control.

This cautionary vibe adds to the groovy sentiment surrounding Ethereum’s price sway. When it comes to the technical groove, Ethereum is likely to sway further downward, especially if it struggles to break convincingly above the $1760 level.

The next spot for potential support can be found around $1690, where eager buyers might bust out their moves to stabilize the price and regain control.

In a nutshell, keep your eyes locked on the $1767 level, as it holds the power to dictate Ethereum’s next moves on the dancefloor.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Idea

Entry Price –– Sell Stop 1700

Stop Loss – 1750

Take Profit – 1660

Risk to Reward – 1 : 0.8

Profit & Loss Per Standard Lot = +$400/ -$500

Profit & Loss Per Micro Lot = +$40/ -$50

Daily Price Outlook

• Ethereum’s downtrend continues as it broke below the $1,770 support level, pushing the price below $1,740.
• The MACD confirms the downtrend, and unless Ethereum surpasses $1,760 or $1,770, the downward movement is expected to persist, potentially reaching the support at $1,700.
• A breakout above $1,770 could lead to resistance levels at $1,818 and $1,850. Investors may view these levels as opportunities to sell.

Ethereum broke below the $1,770 support level, extending the downtrend and pushing the price below $1,740. The presence of bearish candlestick patterns indicates strong selling pressure. The RSI is below 50, suggesting a selling bias.

The MACD confirms the ongoing downtrend. Unless Ethereum surpasses $1,760 or $1,770, the downward movement is likely to continue, potentially reaching the support at $1,700. Further support levels are at $1,647 and even lower around $1,600.

On the upside, a breakout above $1,770 could lead to resistance levels at $1,818 and $1,850. Investors may consider these levels as selling opportunities. Monitoring the $1,770 level is crucial, as a failure to break above it would indicate a continuation of the downtrend.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Ideas

Entry Price – Buy Above 1730.0

Stop Loss – 1700.0

Take Profit – 1775.0

Risk to Reward – 1: 1.5

Profit & Loss Per Standard Lot = +$45/ -$30

Daily Price Outlook

The current price of Ethereum is $1,851.83 USD, with a 24-hour trading volume of $4,607,248,013 USD. Ethereum saw a 1.24% increase in the previous day and has a live market cap of $222,647,665,210 USD.

A trader on the Ethereum network, known as a “diamond hand,” recently took $4 million in profits after holding onto their Ethereum for five years. However, such profit-booking actions by diamond hand traders can contribute to a negative outlook for the altcoin.

Over the past week, Ethereum experienced losses of over 8%, dropping to $1,739 on Binance. The trend of profit-booking among long-term holders has intensified, including a diamond hand trader who achieved a 400% profit on Ethereum after holding it for 1,800 days.

This profit-booking activity by strategic investors selling their holdings in Ethereum is viewed negatively for the asset, potentially signaling further decreases or a prolonged crypto winter.

The Ethereum price has been declining consistently since June 5, falling from $1,893.51 to $1,724.27 as of now, struggling to recover its losses.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Technical Analysis

Ethereum broke below the $1,770 support level, extending the downtrend and pushing the price below $1,740. The presence of bearish candlestick patterns indicates strong selling pressure. The RSI is below 50, suggesting a selling bias.

The MACD confirms the ongoing downtrend. Unless Ethereum surpasses $1,760 or $1,770, the downward movement is likely to continue, potentially reaching the support at $1,700. Further support levels are at $1,647 and even lower around $1,600.

On the upside, a breakout above $1,770 could lead to resistance levels at $1,818 and $1,850. Investors may consider these levels as selling opportunities. Monitoring the $1,770 level is crucial, as a failure to break above it would indicate a continuation of the downtrend.

Daily Price Outlook

Ethereum is currently experiencing significant fluctuations. According to technical analysis, Ethereum recently broke below a symmetrical triangle pattern, losing support at around $1,770. This has caused Ethereum to slide further below $1,740.

Vitalik Buterin, the co-founder of Ethereum, has proposed a roadmap for the future development of the Ethereum blockchain in the face of intense selling pressure. He aims to address high transaction costs and scalability issues by implementing a three-step transition strategy. The key support level for Ethereum, currently facing regulatory challenges from the US SEC, is at $1,800, but it has been breached, with the current price at $1,748.12.

According to IntoTheBlock, the next crucial support for Ether is around $1,500, with a significant number of wallet addresses holding Ethereum at lucrative levels. Buterin highlights three critical transitions—Layer-2 scaling, wallet security, and privacy—that will shape the network’s trajectory.

Scalability remains a major challenge for Ethereum, and Buterin suggests implementing rollups and Layer-2 scaling techniques. Bitcoin and Ethereum have experienced price declines, partly influenced by regulatory actions against cryptocurrency exchanges.

Other cryptocurrencies like Cardano, Solana, and BNB have also faced significant losses recently.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Idea

The appearance of a bearish engulfing candlestick, followed by a doji candlestick, indicates that sellers dominate the market. Furthermore, the Relative Strength Index (RSI) is below 50, indicating a stronger selling trend.

The Moving Average Convergence Divergence (MACD) also indicates a selling trend, reinforcing the bearish sentiment. As long as Ethereum remains below $1,760 to $1,770, the downward trajectory may continue, possibly targeting the $1,700 support level, which has historical significance. If the price falls below $1,700, it may continue to decline to around $1,647 or potentially even $1,600.

Conversely, if Ethereum breaks above the $1,770 level, it could move toward the following resistance levels at $1,818 and $1,850. These levels could be seen as exit points for some investors. In conclusion, it is crucial to closely monitor the $1,770 level, as a break in either direction could indicate Ethereum’s next major move.

Daily Price Outlook

• Ethereum’s recent break below the $1,770 support in a symmetrical triangle pattern signals strong selling pressure.
• With RSI and MACD both indicating a selling trend, Ethereum may target the $1,700 support level if it stays below $1,760-$1,770.
• A rebound above $1,770 could shift momentum, pushing Ethereum towards resistance levels at $1,818 and $1,850.

Ethereum is currently experiencing significant fluctuations. According to technical analysis, Ethereum recently broke below a symmetrical triangle pattern, losing support at around $1,770.

This has caused Ethereum to slide further below $1,740. The appearance of a bearish engulfing candlestick, followed by a doji candlestick, indicates that sellers are dominating the market. Furthermore, the Relative Strength Index (RSI) is below 50, hinting at a stronger selling trend.

The Moving Average Convergence Divergence (MACD) is also indicating a selling trend, reinforcing the bearish sentiment. As long as Ethereum remains below $1,760 to $1,770, the downward trajectory may continue, possibly targeting the $1,700 support level, which has historical significance.

If the price falls below $1,700, it may continue to decline to around $1,647 or potentially even $1,600.

On the flip side, if Ethereum manages to break above the $1,770 level, it could move towards the next resistance levels at $1,818 and $1,850. These levels could be seen as exit points for some investors.

In conclusion, it is crucial to closely monitor the $1,770 level, as a break in either direction could be indicative of Ethereum’s next major move.

ETH/USD Price Chart – Source: Tradingview

ETH/USD – Trade Idea

Entry Price – Sell Below 1760.0

Stop Loss – 1784.8

Take Profit – 1703.3

Risk to Reward – 1: 2.2

Profit & Loss Per Standard Lot = +$567/ -$248

Profit & Loss Per Micro Lot = +$56/ -$24