The post Ethereum (ETH) Price Prediction for July 23 appeared on BitcoinEthereumNews.com.

Following an explosive multi-week rally, Ethereum price is showing signs of fatigue as the market reacts to resistance near the $3,820 supply zone. Ethereum price today is around $3,690, down 1.9% intraday, after slipping below both local VWAP and trendline support. Traders are closely watching the $3,650 to $3,680 region, which could define the next directional move. What’s Happening With Ethereum’s Price? ETH price dynamics (Source: TradingView) ETH is undergoing a technical rejection after a strong vertical run from $2,800 to nearly $3,820. The 30-minute chart reveals a clean break below a rising wedge structure, followed by a bearish retest of the broken trendline. This shift occurred right after ETH failed to sustain above $3,800, which aligns with key Fibonacci and supply zone resistances. ETH price dynamics (Source: TradingView) The 1-day chart shows ETH still holding above all major EMAs. However, the daily candle has now cut below the upper Bollinger Band near $3,940, which had expanded significantly during the recent surge. This suggests that Ethereum price volatility may begin contracting, particularly if the $3,650 to $3,600 region does not hold as support. Why Is The Ethereum Price Going Down Today? ETH price dynamics (Source: TradingView) Why Ethereum price going down today stems from two key pressures. The first is a confluence of historical resistance levels. The second is visible profit-taking from leveraged traders. On the weekly chart, ETH touched the 0.786 Fibonacci retracement at $3,624, measured from the November 2024 to April 2025 decline, before reversing lower. This area had previously triggered multiple rejections, and current price action appears to be repeating that pattern. ETH price dynamics (Source: TradingView) Smart Money Concept indicators confirm a short-term change of character below the $3,750 region. ETH also failed to break through the $3,820 to $3,940 supply block, which is clearly highlighted…

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Filed under: News - @ July 22, 2025 7:26 am