Ethereum

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Reversal

<p>The post <a href="https://coinpedia.org/news/whats-next-for-ethereum-now-that-bitcoin-has-made-a-bullish-statement/" rel="noopener noreferrer nofollow">What’s Next For Ethereum Now That Bitcoin Has Made A Bullish Statement?</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Bitcoin surged from its lows of $60k, surprising everyone with nearly a 4 percent gain on July 1st. Other altcoins, including Ethereum, also saw gains, bringing renewed hopes to investors and analysts alike. <a href="https://www.youtube.com/watch?v=B6Z0slPO9qs" rel="noopener noreferrer nofollow">Analyst Josh of Crypto World</a> said that the price of ETH is currently holding above the 50% retracement level, which is acting as support around $3,350.&nbsp;</p>
<p>This indicates a pause in the bearish trend, but no confirmation of a bullish trend reversal in the short term. On the 12-hour time frame, ETH is showing a bullish divergence, leading to a slight bullish relief and some sideways price action. However, ETH is still struggling with resistance around $3,450, and another significant resistance area between $3,600 and $3,650.</p>
<h3 class="wp-block-heading" id="h-potential-bullish-reversal"><strong>Potential Bullish Reversal</strong></h3>
<p>For ETH to flip much more bullish in the short term, it needs to break out above $3,650 with confirmation. Additionally, bullish reversal signals for Bitcoin would further support a positive trend for ETH, as the crypto market often follows Bitcoin’s movements. The 8-hour time frame shows an oversold signal in the Ethereum RSI, suggesting a potential pause or relief from the short-term bearish trend, though it doesn’t necessarily indicate the end of the bearish trend.</p>
<h3 class="wp-block-heading" id="h-solana-price-analysis"><strong>Solana Price Analysis</strong></h3>
<p>Looking at Solana on the 12-hour time frame, the price is holding above the critical area between $140 and $144, which has been significant resistance recently and support previously. If Solana can maintain this area as new support and confirm a bounce with green candles, it would indicate a bullish price structure. The next resistance levels to watch are $151 and $160. A confirmed breakout above these levels would indicate a bullish trend reversal. However, a break below $140 would invalidate the bullish breakout.</p>

What’s Next For Ethereum Now That Bitcoin Has Made A Bullish Statement?

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