Ethereum Price Prediction July 2022
The first day of a fresh new month which normally bodes well for Ethereum. However, with the second biggest crypto coin still trying to recover from a brutal crypto selloff in Q2, we summarize what various experts and analysts are predicting for July 2022.
Just as Bitcoin, there is possibility for a slight glimmer of hope. Santiment, a crypto-focused data analytics platform explained that:
Ethereum shark and whale addresses (holding between 100 to 100K $ETH) have collectively added 1.1% more of the coin’s supply to their bags on this -39% dip (since June 7).
Historical evidence points to this tier group having alpha on future price movement.
Hit the beach
Should buyers stay present over the summer and bears take profit before hitting the beach, a supportive momentum could be there for bulls to drive price action higher as bears go on vacation. Expect a rapid return to $1,243, followed by $1,688, at the base of the old bearish triangle and the 55-day Simple Moving Average (SMA) also being tested.
Cryptonews however thought that Ethereum would soon be hitting a so-called make or break level, and would need to defend the $1,000 threshold. They stated:
Ethereum price also followed a bearish path and settled below the USD 1,120 support. ETH traded lower and tested the USD 1,080 zone. It is now struggling to stay above the USD 1,090 level and is down almost 5% in a day and up almost 4% in a week. The next major support is near USD 1,050, below which the price could even test USD 1,000.
Lastly, according to Analytics Insight (and we tend to agree with this), the name of the game is still inflation, and whatever reading comes out of the US as to July’s inflation figure will be vital. In their statement, Analytics Insight said that:
If the inflation keeps rising, then Ethereum might shrink further. But if the bulls will take control, then the next Ethereum handle will be $1,730. Ethereum is currently trading at $1,182. Therefore, it will need massive growth to surpass the current Ethereum ATH.
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