Ethereum Price Analysis: ETH Bulls Slow Down At The Precipice Of $2.150

Daily Ethereum ETH Price Forecast

Last Updated July 23rd 2021
2 Min Read
  • Ethereum price cinder bullish control for three straight days.
    • The overall greed from ETH has reached a new high.

    Since May 25, the Ethereum price rose from $1,579 to $2,115, reaching an all-time high of $2,152.45 on April 2. The buyers have been in full control of the market for the last three days having risen by $110 from $2,005 to $2.115.


    Ethereum Price Does A Hattrick Of Bullish Days

    Look at the daily Ethereum price chart, there are two signs that tell us that ETH still has room for growth:

    1. MACD shows sustained bullish market momentum
    2. The relative strength index (RSI) has still not entered the overbought zone.

    Image: ETH/USD daily

    The IOMAP tells us that the closest support is at $2,050, where 290,000 addresses had previously purchased 4 million ETH tokens. There are not significant resistance barriers upfront.

    Image: IntoTheBlock

    Demand For Ethereum Reaches New High

    Santiment shared the chart above and noted the increasing greed among ETH buyers:

    “Both #Bitcoin and #Ethereum are currently at their highest #Bitmex perpetual contract funding rates since mid-February. This significant difference between long and short positions historically is a caution flag that reflects greed from the crowd.”


    Ethereum Price Is Expected To Reach These Levels

    Ethereum price may have enough bullish momentum to reach the $2,150 psychological level, and even reach new heights.