Ethereum

Future

Momentum

<ul> 
 <li aria-level="1">Investors remain optimistic as ETH approaches potential breakout from a bullish falling wedge pattern.</li> 
 <li aria-level="1">Analysis suggests ETH may reach new highs of $3,895 if bullish trends continue; bearish scenario could see $2,877.</li> 
</ul> 
Ethereum appears poised for a potential bullish breakout in the near future, sparking enthusiasm among investors tracking its recent price movements. Over the past week, Ethereum experienced notable selling pressure, yet market indicators have remained bullish.&nbsp; 
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 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="ETH" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
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As of the latest <a href="https://www.ethnews.com/spot-ethereum-etfs-could-begin-trading-soon-as-sec-concludes-amendment-reviews/">data by ETHNews</a>, Ethereum’s price has risen by more than 2% in the last seven days, with a notable surge of over 3% in the past 24 hours, bringing its current trading value to $3,488.88 and a market capitalization exceeding $419 billion. 
<figure id="attachment_79556" aria-describedby="caption-attachment-79556" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-79556" src="https://www.ethnews.com/wp-content/uploads/2024/07/eth-token-sumary.png" alt="eth-token-sumary" width="1258" height="377">
 <figcaption id="caption-attachment-79556" class="wp-caption-text">
 Source: In to the Block
 </figcaption>
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Analysts <a href="https://www.ethnews.com/grayscale-ethereum-trust-adjusts-as-market-shift/">by ETHNews</a> and CoinMarketCap, have observed a bullish falling wedge pattern forming in Ethereum’s price chart. This pattern, highlighted by <a href="https://x.com/WorldOfCharts1/status/1807512990532661648">X crypto analysts</a>, suggests a potential breakout soon. 
<figure id="attachment_79542" aria-describedby="caption-attachment-79542" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-79542 size-full" title="ethereum-price-prediction-will-eth-hit-3895-or-dip-to-2877-bullish-momentum-signals-breakout-in-near-future" src="https://www.ethnews.com/wp-content/uploads/2024/07/eth-chart-tradingview.jpg" alt="eth-chart-tradingview" width="900" height="511">
 <figcaption id="caption-attachment-79542" class="wp-caption-text">
 Source: <a href="https://x.com/WorldOfCharts1/status/1807512990532661648">@WorldOfCharts1</a>
 </figcaption>
</figure> 
 Despite previous rejections from the upper limits of this pattern, there are optimistic signals indicating a possible upward movement in Ethereum’s price trajectory. 
Short-term metrics for Ethereum also show mixed signals. <a href="https://www.ethnews.com/ethereum-etf-launch-may-push-prices-down-insights-from-mechanism-capitals-expert/">According to ETHNews’</a> analysis of Santiment’s data, there has been a significant increase in Ethereum’s Exchange Inflow and Supply on Exchanges, indicating heightened selling activity among investors. 
<figure id="attachment_79561" aria-describedby="caption-attachment-79561" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-79561" src="https://www.ethnews.com/wp-content/uploads/2024/07/Ethereum-ETH-10.54.13-01-Jul-2024.png" alt="Ethereum-ETH-10.54.13-01-Jul-2024" width="2048" height="693">
 <figcaption id="caption-attachment-79561" class="wp-caption-text">
 Source: Santiment
 </figcaption>
</figure> 
However, large holders of Ethereum, known as whales, have maintained their confidence as the supply held by top addresses has increased. 
Technical indicators such as the Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Chaikin Money Flow (CMF) are showing positive signs. 
<figure id="attachment_79565" aria-describedby="caption-attachment-79565" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-79565" src="https://www.ethnews.com/wp-content/uploads/2024/07/ETHUSD_2024-07-01_10-57-56.png" alt="ETHUSD_2024-07-01_10-57-56" width="2048" height="1292">
 <figcaption id="caption-attachment-79565" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
The MACD suggests a potential bullish crossover, while the RSI has seen an uptick towards a neutral stance, and the CMF indicates increasing money flow into Ethereum. 
Looking ahead, if the current bullish momentum persists, Ethereum could potentially reach new highs, with ETHNews analysts speculating a price target of around $3,895 in the coming days. However, in a bearish scenario, Ethereum’s price might retreat to around $2,877. 
<div class="cryptoboxes" id="mcw-12523" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="ETH" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
Overall, while Ethereum faces short-term uncertainties due to increased selling pressure, the broader market sentiment remains cautiously optimistic about its potential for a breakout and sustained upward movement towards new price highs by the end of this year. 
 Investors and analysts alike continue to monitor Ethereum’s price movements closely for further insights into its future trajectory. 
The post <a href="https://www.ethnews.com/ethereum-price-prediction-will-eth-hit-3895-or-dip-to-2877-bullish-momentum-signals-breakout-in-near-future/">Ethereum Price Prediction: Will ETH Hit $3,895 or Dip to $2,877? Bullish Momentum Signals Breakout in Near Future</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Ethereum Price Prediction: Will ETH Hit $3,895 or Dip to $2,877? Bullish Momentum Signals Breakout in Near Future

ETHNews

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