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Ethereum (ETH) Price Analysis for July 22

Price Predictions
Thu, 07/22/2021 - 14:40
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Denys Serhiichuk
Can Etherum (ETH) rise faster than the other altcoins?
Ethereum (ETH) Price Analysis for July 22
Cover image via www.tradingview.com

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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Bulls keep dominating the situation on the market as all of the top 10 coins remain in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

ETH/USD

Yesterday, the Ethereum (ETH) price followed the cryptocurrency flagship and broke the upper limit of the channel of $1,860. Further growth took place at medium volumes, and toward the end of the day, the pair tested the psychological level of $2,000.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Bulls tried to continue their growth tonight, but so far they have not been able to gain a foothold above the $2,000 mark. During the day, a rollback to the area of average prices is possible.

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Bitcoin (BTC) Price Analysis for July 21

If the moving average EMA55 stops the rollback, then one can hope for continued growth to the area of $2,100.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) keeps growing after yesterday's bull run. At the moment, we need to pay close attention to the area around $2,000. If the daily candle closes above it, there is a good chance of keeping the rise going to the zone of the most liquidity at $2,300.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the longer time frame, Ethereum (ETH) has bounced off the support at $1,730 for the third time against a low trading volume. If bulls can keep the growth going, the nearest level at which sellers may seize the initiative is the mark of $2,250.

Ethereum is trading at $1,988 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.