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Ethereum (ETH) Price Analysis for July 17

Sun, 07/17/2022 - 14:15
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Denys Serhiichuk
Has Ethereum (ETH) reached its local peak yet?
Ethereum (ETH) Price Analysis for July 17
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Buyers keep setting new local peaks as the top 10 coins are in the green zone.

Top coins by CoinMarketCap


The rate of Ethereum (ETH) has risen by almost 15% over the last week.

ETH/USD chart by TradingView

In the local time frame, Ethereum (ETH) is stuck between the support at $1,313 and the resistance at $1,386. The price is closer to the upper level at the moment, which means that bulls are more powerful than bears.

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If the pressure continues, there is a chance to see the leading altcoin near the $1,400 mark by the end of the day.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) is fixed above the vital level at $1,281. While the price is above it, bulls control the situation on the market. In this case, the more likely scenario is sideways trading between $1,300 and $1,400, so bulls could accumulate energy for a further upward move.

ETH/USD chart by TradingView

From the midterm point of view, Ethereum (ETH) is looking bullish as the price has broken the $1,300 mark. Thus, the buying volume is rising, which means that one can expect an approximate rate of $1,500 within the next few weeks.

Ethereum is trading at $1,356 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at