EthereumLong
Ethereum Price Analysis — July 20
Ethereum continued its recovery on Wednesday, reclaiming the $1,600 top at press time. Yesterday, the cryptocurrency tapped a new five-week high at $1,631, a 62.5% jump from its July low of $1,005.
While some analysts foresee a return to the sub-$1,000 area, we might not see such declines in the medium term as ETH appears likely to end July on a positive note, bringing an end to the three-month consecutive decrease. That said, the critical defense level for bulls is the $1,500 figure, keeping in mind that trading conditions are in overheated territories.
Meanwhile, my resistance levels are $1,700, $1,800, and $1,900, and my support levels are $1,500, $1,400, and $1,265.
Total Market Capitalization: $1.08 trillion
Ethereum Market Capitalization: $195.3 billion
Ethereum Dominance: 18.1%
Market Rank: #2
While some analysts foresee a return to the sub-$1,000 area, we might not see such declines in the medium term as ETH appears likely to end July on a positive note, bringing an end to the three-month consecutive decrease. That said, the critical defense level for bulls is the $1,500 figure, keeping in mind that trading conditions are in overheated territories.
Meanwhile, my resistance levels are $1,700, $1,800, and $1,900, and my support levels are $1,500, $1,400, and $1,265.
Total Market Capitalization: $1.08 trillion
Ethereum Market Capitalization: $195.3 billion
Ethereum Dominance: 18.1%
Market Rank: #2
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