Ethereum

Strong

<ul> 
 <li><strong>The price of Ethereum (ETH) is trading at $1,866, down 1.17% in the last 24 hours.</strong></li> 
 <li><strong>The ETH price has begun a temporary upswing from the $1,856 level.</strong></li> 
</ul> 
<p>In the last 24 hours, the cryptocurrency market has moved inside a narrow range. Also, the fear and greed measure is now at 51 out of 100, which is in the middle of the spectrum. On Thursday, bulls drove the price of <a href="https://thenewscrypto.com/ethereum-price-analysis-will-eth-break-the-2k-mark-soon/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) closer to $1,900.</p> 
<p>Ever since the price has been struggling to maintain momentum. According to CMC, the price of Ethereum (ETH) is trading at $1,866, down 1.17% in the last 24 hours.</p> 
<h3 class="wp-block-heading" id="h-facing-strong-resistance">Facing Strong Resistance&nbsp;</h3> 
<p>The RSI ceiling at 48.00 was broken recently, signaling the start of the surge for the world’s second-biggest cryptocurrency. Despite this, prevailing negative sentiment has been signaled by a crossing between the 10-day and 25-day moving averages (MA).</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full"> 
  <img decoding="async" width="661" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/07/ETH_7D_graph_coinmarketcap.png" alt="" class="wp-image-79752" srcset="https://thenewscrypto.com/wp-content/uploads/2023/07/ETH_7D_graph_coinmarketcap.png 661w, https://thenewscrypto.com/wp-content/uploads/2023/07/ETH_7D_graph_coinmarketcap-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/07/ETH_7D_graph_coinmarketcap-150x81.png 150w" sizes="(max-width: 661px) 100vw, 661px"> 
  <figcaption class="wp-element-caption">
    Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
  </figcaption> 
 </figure> 
</div> 
<p>If ETH fails to break over the $1,900 price level, a severe decline is anticipated. The price of Ethereum has begun a temporary upswing from the $1,856 level. Ethereum followed <a href="https://thenewscrypto.com/bitcoin-whales-move-btc-to-binance-dump-incoming/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin’s</a> lead and rallied over the $1,850 and $1,860 marks. However, selling pressure remains below $1,900. Although, buyers are trying to push the price higher.</p> 
<p>The gap between the Ethereum price and the $2,000 resistance level is narrowing, suggesting that a major breakout is now being fostered. A bullish inverse head-and-shoulders (H&amp;S) pattern has formed on the daily chart, suggesting a 19% increase to $2,385. The reversal of the H&amp;S pattern indicates the uptrend is about to begin.</p> 
<p>Ethereum’s price needs to break and stay above the $1,870 barrier to be safe. Investors may begin taking profits around $2,000, but extreme bulls may want to wait for the H&amp;S pattern breakthrough to $2,385 before selling.</p>

Ethereum Price Eyes Potential Breakout Amid Bear Dominance

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