ETHEREUM long BUlls are very strong focus on 4200$

Jul 4, 2023

2900
3500
4200

This are prices I am forecasting Ethereum going to.So I baought again this pair.


Ethereum price prediction, the value of Ethereum is predicted to drop by -3.87% and reach $ 1,880.69 by July 8, 2023. According to our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 62 (Greed). Ethereum recorded 15/30 (50%) green days with 4.17% price volatility over the last 30 days. Based on our Ethereum forecast, it's now a good time to buy Ethereum.

The bullish sentiment is 83%.

Comparing Ethereum against other important technological innovations and trends is one way of predicting where the Ethereum price could head over the long term. The table above shows what the Ethereum price would be by end of year 2024, 2025, and 2026 if its growth trajectory followed the growth of the internet, or large tech companies like Google and Facebook in their growth phase.

In the best case scenario, ETH price prediction for year 2026 is $ 40,444 if it follows Facebook growth. In case Ethereum would follow Internet growth the prediction for 2026 would be $ 4,639.59.

Ethereum is currently trading above the 200-day simple moving average (SMA). The 200-day SMA has been signaling BUY for the last 18 days, since Jun 15, 2023.

The price of Ethereum is currently above the 50-day SMA and this indicator has been signaling BUY for the last 12 days, since Jun 21, 2023.

The most recent Death Cross in the Bitcoin market happened 524 days ago, on Jan 25, 2022. Meanwhile, a Golden Cross last occurred on Feb 09, 2023, which was 144 days ago.
Based on our technical indicators, Ethereum's 200-day SMA will rise in the next month and will hit $ 1,755.37 by Aug 02, 2023. Ethereum's short-term 50-Day SMA is estimated to hit $ 1,819.72 by Aug 02, 2023.

The Relative Strength Index (RSI) momentum oscillator is a popular indicator that signals whether a cryptocurrency is oversold (below 30) or overbought (above 70). Currently, the RSI value is at 61.22, which indicates that the ETH market is in a neutral position.


Based on today's classical pivot point (P1) with the value of $ 1,925.80, Ethereum has support levels of $ 1,899.83, $ 1,867.43, and the strongest at $ 1,841.46. Similarly, Ethereum resistance levels are at $ 1,958.21, $ 1,984.17, and $ 2,016.58..



Over the past 7 days, Ethereum price was most positively correlated with the price of Maker (MKR), Binance Coin (BNB), EOS (EOS), Litecoin (LTC) and Cardano (ADA) and most negatively correlated with the price of Bitcoin (BTC), Bitcoin (BTC), XRP (XRP), Stellar (XLM) and Bitcoin (BTC).

Ethereum Price Forecast

Date Price Change
Jul 4, 2023 $ 1,948.76 -0.39%
Jul 5, 2023 $ 1,928.34 -1.44%
Jul 6, 2023 $ 1,865.91 -4.63%
Jul 7, 2023 $ 1,935.40 -1.08%
Jul 8, 2023 $ 1,880.69 -3.87%
Jul 9, 2023 $ 1,879.69 -3.92%
Jul 10, 2023 $ 1,793.13 -8.35%
Jul 11, 2023 $ 1,794.39 -8.28%
Jul 12, 2023 $ 1,777.81 -9.13%
Jul 13, 2023 $ 1,789.45 -8.54%
Jul 14, 2023 $ 1,776.89 -9.18%
Jul 15, 2023 $ 1,684.64 -13.89%
Jul 16, 2023 $ 1,693.23 -13.45%
Jul 17, 2023 $ 1,769.47 -9.56%
Jul 18, 2023 $ 1,745.67 -10.77%
Jul 19, 2023 $ 1,742.69 -10.92%
Jul 20, 2023 $ 1,744.43 -10.84%
Jul 21, 2023 $ 1,819.37 -7.01%
Jul 22, 2023 $ 1,906.42 -2.56%
Jul 23, 2023 $ 1,889.61 -3.42%
Jul 24, 2023 $ 1,901.97 -2.78%
Jul 25, 2023 $ 1,911.03 -2.32%
Jul 26, 2023 $ 1,872.39 -4.30%
Jul 27, 2023 $ 1,864.44 -4.70%
Jul 28, 2023 $ 1,870.72 -4.38%
Jul 29, 2023 $ 1,846.92 -5.60%
Jul 30, 2023 $ 1,885.36 -3.63%
Jul 31, 2023 $ 1,930.49 -1.33%
Aug 1, 2023 $ 1,923.82 -1.67%
Aug 2, 2023 $ 1,960.07 0.19%


Month Open Low-High Close Mo,% Total,%
2023
Jul 1933 1836-2478 2198 13.7% 13.7%
Aug 2198 1933-2643 2470 12.4% 27.8%
Sep 2470 2370-2726 2548 3.2% 31.8%
Oct 2548 2374-2732 2553 0.2% 32.1%
Nov 2553 2438-2804 2621 2.7% 35.6%
Dec 2621 2621-3191 2982 13.8% 54.3%
2024
Jan 2982 2805-3227 3016 1.1% 56.0%
Feb 3016 3016-3744 3499 16.0% 81.0%
Mar 3499 3011-3499 3238 -7.5% 67.5%
Apr 3238 2530-3238 2720 -16.0% 40.7%
May 2720 2720-3376 3155 16.0% 63.2%
Jun 3155 2508-3155 2697 -14.5% 39.5%
Jul 2697 2320-2697 2495 -7.5% 29.1%
Aug 2495 2495-3097 2894 16.0% 49.7%
Sep 2894 2261-2894 2431 -16.0% 25.8%
Oct 2431 1899-2431 2042 -16.0% 5.6%
Nov 2042 1595-2042 1715 -16.0% -11.3%
Dec 1715 1715-2046 1912 11.5% -1.1%
2025
Jan 1912 1912-2240 2093 9.5% 8.3%
Feb 2093 1635-2093 1758 -16.0% -9.1%
Mar 1758 1374-1758 1477 -16.0% -23.6%
Apr 1477 1477-1742 1628 10.2% -15.8%
May 1628 1628-2020 1888 16.0% -2.3%
Jun 1888 1534-1888 1649 -12.7% -14.7%
Jul 1649 1649-2047 1913 16.0% -1.0%

Jul 10, 2023

Note

Wall Street Ends in the Green

The Dow Jones closed more than 209 points higher on Monday, while the S&P 500 and the Nasdaq added 0.2% each, as investors awaited the US consumer and producer inflation reports later this week and braced for the start of the second quarter earnings season. The upcoming inflation report is expected to offer additional evidence regarding inflationary pressures and provide insights into the Federal Reserve's future actions. Traders are currently pricing in a nearly 92% chance for a 25bps increase in the fed funds rate this month, but the odds for another quarter point hike later in the year have been swinging, currently standing at 22% for September and 33% for November. Healthcare shares were among top performers of the session including Amgen (+2.5%). Also, Inter (+2.8%), Honeywell (+2.2%) and Home Depot (2.5%) outperformed while mega cap shares dragged as Apple (-1.1%), Tesla (-1.7%), Microsoft (-1.6%), Alphabet (-2.5%) and Amazon (-2%) ended in the red.

Jul 11, 2023

Note

US 10-Year Treasury Yield Down for 2nd Session

The yield on the US 10-year Treasury note fell below 4%, retreating for the second consecutive session after hitting its highest since November 2022 at almost 4.1% as investors turned cautious ahead of key economic data that could influence the Federal Reserve’s next interest rate policy moves. The CPI report on Wednesday is expected to show headline annual inflation fell to 3.1% in June from 4% in the previous month, while the core index probably decreased to 5% from 5.3%. Markets are now pricing in a 94.9% chance of rates being hiked again during the central bank’s upcoming meeting on July 25-26 but uncertainty remains for the other three Fed meetings scheduled for later in the year. In the latest Fed commentary, Fed President Mary Daly said that she expects two further rate hikes to be announced this year to lower inflation, in line with early comments from Fed Chairman Jerome Powell.

Americans Become More Pessimistic in July
The IBD/TIPP Economic Optimism Index in the US unexpectedly fell to 41.3 in July 2023, the lowest since November last year, compared to 41.7 in June and market forecasts of 45.3. It also marks a 23rd month the reading stands below 50, indicating Americans remain pessimistic. “The economy continues to be the number one issue for Americans as we prepare for earnings season and new inflation data. The Six-Month Economic Outlook was the lone bright spot for July, as optimism slightly increased for the long-term, but it’s still a long way from positive. Expect some more twists and turns before consumers trust that the economy has stabilized”, said Ed Carson, IBD's news editor. The Personal Financial Outlook, a measure of how Americans feel about their own finances in the next six months, fell to 50 from 51.9 and the gauge for Confidence in Federal Economic Policies edged lower to 38.5 from 38.6. On the other hand, the Six-Month Economic Outlook rose to 35.5 from 34.5.

Jul 19, 2023

Note

Bond Yields Continue to Fall
Government bond yields around the world fell for a third day on Wednesday, with the US 10-year Treasury note yield retreating to 3.74%, a fresh low since late June. Investors are getting increasingly convinced that major central banks, and specially the Fed will soon end their tightening campaign. Bets for a 25bps hike in the fed funds rate next week currently stand at 97% but investors remain divided on the need of further increases, with chances for a September increase currently standing at 12% and for November at 23%. Meanwhile, the ECB is also set to raise rates by 25bps again next week while there is just a 70% chance of a further rate rise in September. In the UK, another increase in borrowing costs is seen as certain next month, but a smaller-than-expected inflation reading for June lowered bets on further BOE rate hikes. On the other hand, traders are increasingly speculating the Bank of Japan could adjust its ultra loose monetary policy next week.

European Markets Head for Higher Open
European equity markets were headed for a higher open on Wednesday as investors reacted to data showing the annual consumer inflation in the UK stood at 7.9% in June, the lowest reading since March 2022 and below forecasts of 8.2%. Investors also await final euro zone inflation figures later on Wednesday to guide the economic and monetary policy outlook in the region. Moreover, markets look ahead to the latest earnings report from Dutch chip industry giant ASML, as well as from major US firms such as Tesla, Netflix and Goldman Sachs. DAX and Stoxx 600 futures rose 0.2% in premarket trade, while FTSE 100 futures jumped 0.8%.

Jul 20, 2023

Note

This trade is stil open and active

relevant market wraps
European Markets Head for Muted Open

European equity markets were headed for a muted open on Thursday as investors braced for the start of the earnings season in the region. Major European firms slated to report earnings today include SAP, EasyJet, Volvo Car, Publicis, ABB and Nokia. Investors also turned cautious after shares of key technology names in the US dropped in post-market trade on disappointing quarterly results. DAX, Stoxx 600 and FTSE 100 futures all fluctuated around the flatline in premarket trade.
Gold Hits 2-Month High on Fed Pause Bets
Japan 10-Year Yield Steadies Around 0.46%
Japan’s 10-year government bond yield steadied around 0.46% as a dovish outlook on Bank of Japan monetary policy kept the benchmark yield below the upper limit of the target range. BOJ Governor Kazuo Ueda recently stated that there was still some distance to sustainably and stably achieve the central bank’s 2% inflation target, indicating the BOJ’s commitment to ultra-easy monetary policy. Last month, the central bank held its short-term interest rate target at -0.1% and that of 10-year bond yields at around 0% by a unanimous vote, in line with expectations. Falling bond yields in other major economies also reduced upward pressure on JGB yields, as easing inflationary pressures raised hopes that the end of the current monetary policy tightening cycle is close.

Japan Raises This Year’s Price View to 2.6% Ahead of BOJ Meet
The Japanese government raised its overall inflation forecast to 2.6% for the current fiscal year ahead of the central bank’s policy decision meeting next week, the Cabinet Office said Thursday. The upward revision from the previous forecast of 1.7% shows stronger-than-expected inflationary pressure. Japan saw that trend holding up even after accounting for government price-relief measures, which the Cabinet Office says shaves 0.5 percentage points off this year’s price reading. For fiscal 2024, the government expects overall inflation to slow to 1.9%.

Jul 22, 2023

Note

trade is open

Jul 23, 2023

Note

trade is open
bullish
Compared to today’s price, Ethereum could gain 299.19% by 2025 if ETH reaches the upper price target.

Ethereum's 200-day SMA will rise in the next month and will hit $ 1,783.64 by Aug 22, 2023. Ethereum's short-term 50-Day SMA is estimated to hit $ 1,930.41 by Aug 22, 2023.