Ethereum Price Prediction: Can ETH Surpass 5K in July?
The post Ethereum Price Prediction: Can ETH Surpass 5K in July? appeared on BitcoinEthereumNews.com.
Ethereum is showing encouraging signs of gaining momentum against Bitcoin, with bullish indicators and the launch of new ETFs on the horizon. The current price stability suggests potential for upward trends. Could ETH hit $5K in July? Let’s take a look at this Ethereum price prediction in more detail. How has the Ethereum Price Moved Recently? ETH/USD Daily Chart- TradingView Ethereum is currently priced at $3,466.80, with a 24-hour trading volume of $11.30 billion. It has a market cap of $416.49 billion and holds 17.88% of the market dominance. Over the last 24 hours, ETH’s price has dipped by 0.90%. Ethereum’s peak price was $4,867.17 on November 10, 2021. Its lowest price was $0.420897 on October 21, 2015. Since reaching its all-time high, the lowest point was $897.01, while the highest rebound was $4,094.18. The current sentiment for Ethereum price prediction is neutral, and the Fear & Greed Index stands at 51, indicating a neutral market sentiment. Ethereum’s circulating supply is 120.14 million ETH, with a yearly supply deflation rate of -0.24%, equating to a reduction of 292,161 ETH over the past year. Ethereum Price Prediction: What is The Expected Scenario? On July 1, Ethereum’s price briefly surged above the $3,500 mark. However, delays in the launch of ETH ETFs could hinder this rally. Technical indicators suggest that Ethereum bulls must strongly defend the $3,300 support level in the upcoming week to maintain momentum. The bullish momentum aims for an initial target around $3,500, possibly extending to $3,641.82. Yet, breaching the support at $3,360.31 could stall this bullish trend, exposing Ethereum to potential bearish correction. Given these figures, forecasts cast doubt on Ethereum reaching $4,000, especially in the first week of July. However, with upcoming launches on the horizon, expectations and forecasts could shift significantly. Will Ethereum Price Touch $5000…
Filed under: News - @ July 2, 2024 10:16 am