Ethereum price analysis: ETH/USD battles to break above Andrews Pitchfork resistance


  • ETH/USD is currently fighting to exchange hands past Andrews Pitchfork.
  • The market is generally bullish at the moment with most of the assets correcting higher.

Ethereum price smashed its way out of the short-term bullish flag pattern, but first, it descended to test the support at $464 at the opening of the trading session on Thursday. The crypto then embarked on an upward roll breaching past the resistance at $472. ETH/USD is currently fighting to exchange hands past Andrews Pitchfork with the higher pitch at $483.5 on July 3 and the lower pitch at $463 traded on July 5 as seen on the chart.

The price is looking forward to $480 (critical resistance). If Ethereum can find a support above Andrews Pitchfork, ETH/USD could retrace the steps heading to $500. In the event the sellers enter and call for lower corrections, there are several support zones, for instance, at $472, $464 and $460. The lower demand area at $452 - $444 will also stop downside movements.

Cryptocurrency market overview

The market is generally bullish at the moment with most of the assets correcting higher on the day. Bitcoin, for example, is consolidating above $6,600 while it up 0.68%. NEO is among the biggest gainers in the market spiking over 4%. Other assets are, however, correcting lower like IOTA price is down 1.88% besides, Ripple and Bitcoin Cash are making subtle declines of below 1% on the day.

ETH/USD 15’ chart


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