Ethereum (ETH) Price Prediction for July 31
Main Idea
Ethereum's price is showing signs of exhaustion after a recent rally, with key technical indicators suggesting potential short-term downside unless critical support levels are maintained.
Key Points
1. Ethereum price is consolidating near $3,758 after failing to break above $3,800, with volatility compressing and volume fading.
2. Key resistance is near $4,151 (upper Bollinger Band), while support zones are at $3,516 and $3,090; losing these could invalidate the current bullish structure.
3. The 30-minute chart shows a declining channel between $3,820 resistance and $3,720 support, with RSI at 34.3 indicating intraday weakness.
4. Spot net outflow stands at -$137.71M as of July 30, reflecting profit-taking and supporting the current cooldown.
5. Short-term outlook: Holding $3,709 and reclaiming $3,800 could push ETH toward $3,940-$4,000, but failure risks a breakdown to $3,516 or lower.
Description
After a parabolic breakout that sent Ethereum price from $2,800 to nearly $3,850 in just two weeks, the rally is showing early signs of exhaustion. Ethereum price today is consolidating near $3,758 after multiple failed intraday pushes above $3,800. With volatility compressing and volume fading, traders are watching for a decision from bulls at the upper trend channel. What’s Happening With Ethereum’s Price? ETH price forecast (Source: TradingView) The daily structure shows ETH facing friction j...
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