Ethereum (ETH) Price Prediction & Analysis for July 12

Key Points

1. Ethereum's price is trading near $2,980, with a bullish breakout above the $2,715–$2,750 resistance zone, reinforcing a structural reversal.

2. On-chain data shows investors moving ETH to self-custody, a historically bullish trend, despite a slight uptick in exchange reserves.

3. Momentum indicators like RSI and MACD suggest temporary consolidation but remain bullish, with strong support from moving averages.

4. Ethereum is nearing the apex of a multi-year symmetrical triangle, with a break above $3,200–$3,500 potentially signaling a new macro uptrend.

5. Short-term support levels are at $2,945–$2,965 and $2,715, with resistance at $3,081 and $3,525, indicating potential for further upside if support holds.