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<p>The post <a href="https://coinpedia.org/price-analysis/will-ethereum-eth-price-surge-with-the-ethereumetf-listing-this-week/">Will Ethereum (ETH) Price Surge With The EthereumETF Listing This Week?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency market started the second week of July on a bearish note by recording a correction of 4.07% in its global market capitalization. Further, top tokens have experienced a strong pullback toward their crucial support levels, indicating a strong bearish sentiment.</p> 
<p>Moreover, the altcoin leader, <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noreferrer noopener">Ethereum price</a>, has displayed a similar trend by dropping approximately 5.50% within the past 2 days after failing to hold its value above the $3,000 mark.</p> 
<p>However, with a potential listing of the <a href="https://markets.coinpedia.org/ethereum-etf/" target="_blank" rel="noreferrer noopener">EthereumETF</a> this week, will ETH price make a comeback or break down its crucial support? Let’s go as, in this article, we have covered the price analysis of the Ethereum token and also its potential monthly targets.</p> 
<h2 class="wp-block-heading" id="h-eth-coin-price-hints-at-a-potential-bullish-reversal">ETH Coin Price Hints At A Potential Bullish Reversal:</h2> 
<p>The Ethereum price has continued to trade in a descending channel pattern since June, indicating a strong bearish sentiment for the altcoin leader in the crypto space. Moreover, the <a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">ETH price</a> hovers close to its support trendline, suggesting weak buying pressure.</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXeiMGXgdp_Lwzb_M1KQVpflqRXExAq5-UhlSvA9BD4DA-XMuFYdauPBIGbWMbW3MmCywD9AEf63NASrh2K819nmld9FDyD5m1bCiSuj20kTdBQvAezrJkoil-4B3o8uShuS8xnfWDM48iraTxwhXm4XL3iE?key=RTJf3zqpyJpngveJSiPP_Q" alt="Ethereum Price Analysis">
 <figcaption class="wp-element-caption">
  TradingView: ETH/USDT
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</figure> 
<p>Moreover, despite recording a jump of 4.39% on Saturday, the ETH crypto price has dropped 3.86% within the past 24 hours with a trading volume of $14.267 Billion. Further, it has plunged 15.92% within the past week and 20.50% over the last 30 days.</p> 
<p>Positively, the Ethereum price chart has formed a strong support zone around its $2,800 level, highlighting a strong buying pressure at that point. This indicates a high possibility of a bullish reversal for the price of ETH at that level.</p> 
<h2 class="wp-block-heading" id="h-ethereum-market-sentiments">Ethereum Market Sentiments:</h2> 
<p>The technical indicator, MACD, displays a constant rise in the red histogram, indicating an increase in the selling-over-buying pressure in the crypto space. Further, the averages show a negative pattern, suggesting a bearish outlook for the ETH token this week.</p> 
<p>Moreover, the Simple Moving Average (SMA) has recorded a sharp decline in its price chart, suggesting a weak bullish influence in the cryptocurrency market.</p> 
<h2 class="wp-block-heading" id="h-will-eth-price-go-up-or-down-this-week">Will ETH Price Go Up Or Down This Week?</h2> 
<p>If the Ethereum bulls successfully retest its crucial support zone, the altcoin leader will regain momentum and test its resistance level of $3,000. Furthermore, if the market holds the ETH price at that level, it will prepare to test its upper resistance level of $3,400 this month.</p> 
<p>Conversely, if the bears continue to dominate the crypto market, the Ethereum price will break down its crucial support zone and plunge toward its low of $2,625 during the upcoming weeks.</p> 
<p>Read Also: <a href="https://coinpedia.org/price-analysis/bitcoin-ethereum-and-xrp-price-prediction-has-the-bull-rally-resumed/" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, And XRP Price Prediction: Has The Bull Rally Resumed?</a></p>

Will Ethereum (ETH) Price Surge With The EthereumETF Listing This Week?

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