![Ethereum (ETH) Price Prediction for July 12](https://u.today/sites/default/files/styles/736x/public/2024-07/50267.jpg)
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Bulls do not seem ready for a continued upward move, according to CoinStats.
![Article image](/sites/default/files/inline-images/top10_1230.png)
ETH/USD
The price of Ethereum (ETH) has fallen by 1.66% over the last 24 hours.
![Article image](/sites/default/files/inline-images/eth1_123.png)
On the hourly chart, the rate of ETH remains bearish as it is coming back to the local support level of $3,055. If the situation does not change by the end of the day, one can expect a breakout to the $3,000 zone.
![Article image](/sites/default/files/inline-images/eth2_130.png)
On the bigger time frame, one should pay attention to yesterday's bar's low. If the candle closes near it or below, the fall may continue to the vital area of $3,000 shortly.
![Article image](/sites/default/files/inline-images/eth3_119.png)
From the midterm point of view, the rate of ETH is far from key levels, which means neither buyers nor sellers are ready for a sharp move.
In this case, ongoing sideways trading in the zone of $2,900-$3,100 is the more likely scenario.
Ethereum is trading at $3,074 at press time.