Ethereum Confirms Hourly Death Cross, What’s Next for ETH Price?

Key Points

1. Ethereum's 50-hour moving average crossed below the 200-hour moving average, indicating short-term weakness.

2. ETH rose over 48% in July, its highest monthly performance in three years, but faced resistance near $4,000.

3. The crypto market saw $758 million in liquidations over the last 24 hours, contributing to volatility.

4. Analysts note the $4,500 level as a key upside threshold, which previously acted as resistance in 2024 and the 2020-2021 cycle.

5. Despite the July surge, ETH's price dropped from a high of $3,878 to an intraday low of $3,563 before a slight rebound.