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Ethereum Price Prediction: ETH/USD resumes its bullish path above $250 after establishing a clear higher low

  • ETH/USD is currently trading at $244.47 and getting close to $250.
  • The most important resistance area is located between $250 and $253.47.

Ethereum has resumed its mission to crack $250 and climb above the high of $253.47. Bulls managed to establish a higher low at $235.56 and are seeing a continuation of the daily uptrend. The next resistance level is the high at $248.98 formed on July 8 and then all the area between $250 and $253.5

Fundamental metrics are in favor of Ethereum in the long-term

ETHUSD

According to Glassnode, the number of active Ethereum addresses has been increasing since January 2020. Another important metric is the number of Ethereum addresses with more than 10 coins. This number started to significantly increase right after the crash on March 12.

ETHUSD

In February 2019, there were around 260,859 addresses with 10 or more Ethereum coins. On June 4, this number increased to 275,943, a significant rise that indicates people are buying to hold for the long-term.

ETH/USD technical levels

ETH/USD

Overview
Today last price244.63
Today Daily Change1.75
Today Daily Change %0.72
Today daily open242.88
 
Trends
Daily SMA20233.63
Daily SMA50232.78
Daily SMA100210.7
Daily SMA200195.08
 
Levels
Previous Daily High243.98
Previous Daily Low236.66
Previous Weekly High248.98
Previous Weekly Low223.56
Previous Monthly High253.48
Previous Monthly Low216.37
Daily Fibonacci 38.2%241.18
Daily Fibonacci 61.8%239.46
Daily Pivot Point S1238.37
Daily Pivot Point S2233.86
Daily Pivot Point S3231.05
Daily Pivot Point R1245.69
Daily Pivot Point R2248.49
Daily Pivot Point R3253

Author

Lorenzo Stroe

Lorenzo Stroe

Independent Analyst

Lorenzo is an experienced Technical Analyst and Content Writer who has been working in the cryptocurrency industry since 2012. He also has a passion for trading.

More from Lorenzo Stroe
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