Last Updated: 9 July 2021 / 12:30am EST
Ethereum (ETH) had started to make some good moves, but inevitably followed the big guy as it dropped itself down. We seem to have caught some support at the $2100 price point however, and are currently trading at $2140.
As we tried to have a breakaway above the $2250 resistance line, and failed, I would expect this to become a stronger point of resistance for the next few weeks as the bears are still pretty clearly in control of the market.
I still think we may see the price slide down as low as $1900, and trend between there and the $2250 line, but we may be able to stay above $2100 if that support line continues to hold.
Last Updated: 6 July 2021 / 9:30pm EST
Ethereum (ETH) is currently holding pretty steady at around the $2300 price point. A lot of this is the fact that the current estimated date for the London hard fork is only a week away, which would see EIP-1559 come into effect, but there is a very real possibility that it gets delayed.
I expect that there will not be a lot of price movement in the next few days, as the core development team is meeting later this week and if they decide then to push back the London hard fork, we may see that negatively hit the price temporarily, depending on how far out it gets pushed.
There is a lot of good news in the Ethereum (ETH) front, as far as whales making large purchases and moving it either into cold wallets or staked in the Ethereum 2.0 contract, so as long as the fee burn doesn’t get pushed too far, I can see Ethereum starting to push up a little higher and starting a recovery from it’s current point.
Last Updated: 4 July 2021 / 4:45pm EST
Ethereum (ETH) is managing to make a pretty good push today, well above what I had pegged as the top of the box. It’s pushed up and into what I am considering limbo land, where the next real line, besides the moving averages, is all the way up at $2700.
If it can manage to push up and past the 50 day EMA and take the $2400 line, we could be seeing Ethereum start making the slow creep back up towards the upper bands of where the price action has been post crash.
If we see that happen, the next resistance line would be $2700 followed by $2900, on it’s way back up towards newer territory. If the price momentum can stay positive, good things could be on the horizon.
On the flip side, if the price starts pulling back downwards, we can expect to see price action around $2250, and then again at $2100.