Ethereum

Bitcoin

April

Daily

<ul> 
 <li>Ethereum (ETH) hit the $2K mark twice this year, in April and July.</li> 
 <li>The largest altcoin exhibited a year-to-date (YTD) gain of over 55.02%.&nbsp;</li> 
 <li>A whale initiated a notable dump of over 16K ETH over the past 24 hours.</li> 
</ul> 
Ethereum (ETH), the largest altcoin by market capitalization, has experienced fluctuations in the crypto market. Similar to Bitcoin (BTC), ETH also struggles to surpass its key resistance – the $2000 level.&nbsp; 
Following the positive Ripple lawsuit verdict, the Ethereum (ETH) price <a href="https://thenewscrypto.com/ethereum-surpasses-2000-mark-bullish-momentum-to-continue/" target="_blank" rel="noopener noreferrer nofollow">experienced</a> a sudden surge, alongside several altcoins. On July 14, Ethereum reached the $2K mark for the second time this year. Currently, the largest altcoin has failed to trade above the $2K range and has clearly shown a downtrend. 
<h3 class="wp-block-heading" id="ethereum-eth-price-analysis-24-hour-timeframe">Ethereum (ETH) Price Analysis: 24-Hour Timeframe</h3> 
At the time of writing, the trading price of Ethereum (ETH) was around $1,856, with a surge of over 0.37% in the last 24 hours. According to CoinMarketCap data, the daily trading volume of ETH crossed $5.8 billion, experiencing an increase of 29.89%. 
<figure class="wp-block-image size-large"> 
 <img decoding="async" width="1024" height="527" src="https://thenewscrypto.com/wp-content/uploads/2023/07/image_2023-07-25_12-02-29-1024x527.png" alt="" class="wp-image-79498" srcset="https://thenewscrypto.com/wp-content/uploads/2023/07/image_2023-07-25_12-02-29-1024x527.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/07/image_2023-07-25_12-02-29-300x154.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/07/image_2023-07-25_12-02-29-768x395.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/07/image_2023-07-25_12-02-29-150x77.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/07/image_2023-07-25_12-02-29.png 1303w" sizes="(max-width: 1024px) 100vw, 1024px"> 
 <figcaption class="wp-element-caption"> Ethereum (ETH) Daily Price Chart (Source: TradingView) 
 </figcaption> 
</figure> 
he daily price chart shows the bearish price movement of ETH as the current price hovers below the 50-day exponential moving average (50 EMA). Moreover, according to the daily RSI, Ethereum (ETH) withdrew from its neutral territory and is found to inch closer to the oversold zone.&nbsp; 
ETH has been trading within a horizontal channel since mid-April. Since then, this cryptocurrency faced rejections at the $2,000 level. However, on July 14, ETH did exhibit a brief spike to hit its monthly high at $2,028. If the largest altcoin experiences a breakout, it might rally to attain its nearest resistance at $1916 and even advance further to $2021. Conversely, if ETH resumes a further downside, it would retrace to new lows at $1818. 
<h3 class="wp-block-heading" id="h-a-massive-ethereum-whale-transfer-detected">A Massive Ethereum Whale Transfer Detected</h3> 
The on-chain analytics platform Lookonchain reported massive activity in the last 24 hours. After the recent market crash, an anonymous whale account dumped 16,751 ETH tokens, worth $30.8 million, on the crypto exchange Binance. Simultaneously, the whale has withdrawn 30.8 million USDT. The market now looks forth to witness the impact of this huge ETH deposit.

Ethereum Price Analysis: Will ETH Break the $2K Mark Soon?

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