by Viktor A 

July 2, 2021

The Ethereum price is back in the $2,000 area, where it began its recent uptrend. A break above $2,300 would likely suggest a major reversal and lead to a push towards $2,500, and perhaps even beyond. A break below $2,000 could well lead to a test of the next support level at $1,850.

The Ethereum price has been following the same bullish trend for the last couple of months, and there are a lot of reasons to believe that the price will continue to move upwards in the coming weeks and months.

The Ethereum price has been volatile recently, but those who bought it at this price will be happy to see that a retracement to $2,000 is now a likely outcome. There’s plenty of scope for further gains, and if we see ETH at this level, there’s potential for a move toward $2,000.. Read more about ethereum price prediction 5 years and let us know what you think.Summary of the situation

  • ETH weakened again last night.
  • Support around $2,000 is currently being tested.
  • The next big upside target is $2,600.

Ethereum price analysis for today is bullish now that the market has pulled back to the $2,000 level and the bulls are preparing to push ETH/USD higher over the weekend.

Heatmap for crypto-currencies. Source: Coin360

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Overall, the cryptocurrency market has been in negative territory for the past 24 hours. Bitcoin is down 1 percent and Ethereum is down about 3.4 percent. The rest of the altcoin market follows this pattern with slightly bearish results.

Ethereum price movement in the last 24 hours

ETH/USD was trading in a range of $2,022 to $2,144, indicating moderate volatility. Trading volume fell 13.5% to $25.2 billion. The company has a total market value of approximately $238 billion, giving it a dominance of 17.58%.

4-hour ETH/USD chart – ETH tests $2,000 support

On the 4-hour chart, we can see that the Ethereum price has fallen over the past 24 hours and tested the $2,000 support level, indicating further upward movement over the course of the day.

4-hour ETH/USD chart. Source: TradingView

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Overall, the market was in the red in recent weeks. After hitting resistance around $2,900, the price of ETH/USD fell to support at $1,725 in the following weeks. Later last week, the ETH/USD retested the $1,725 support level, followed by a strong rally to $2,300.

From there, ETH pulled back during the past 24 hours until support was found around the $2,000 level, where resistance had been seen earlier. This move in price action should see ETH/USD hit resistance at $2,600 over the weekend.

If support at $2,000 is reached from the $2,600 level, there will be a rally of over 28%, signaling to the market that we could see many more rallies in the coming weeks.

Ethereum Price Analysis: Supplement

The Ethereum price analysis for the next few days is bullish, as the market has fallen enough in the last 24 hours to prepare for another upward push. Therefore, we can expect ETH/USD to break above the $2,300 resistance level in the next 24 hours and continue moving higher from there.

While we wait for Ethereum to rise again, check out our article on the benefits of DeFi, bitcoin commissions, and what you can buy with bitcoins.

Denial. The information provided does not constitute commercial advice. .com accepts no responsibility for investments made on the basis of information provided on this site. We strongly recommend that you conduct independent research and/or consult a qualified expert before making any investment decision.The overall look of the market is positive. The price of Ethereum (ETH) appears to be consolidating since the green candle closed above $2,500. Ethereum is currently retracing back to the $2,000 level which is a key support level for the price.. Read more about what’s happening to ethereum price and let us know what you think.

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Viktor A

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