Ethereum (ETH) Price Prediction for July 8

Some coins from the top 10 list have come back to the red zone today, according to CoinStats.

ETH/USD

The rate of Ethereum (ETH) has risen by 1.19% over the last 24 hours.

On the hourly chart, the price of ETH might have set a local resistance of $2,600. If buyers cannot seize the initiative by the end of the day, the correction is likely to continue to the support tomorrow.

On the bigger time frame, none of the sides is dominating as the rate of the chief altcoin is far from the support and resistance levels. If buyers want to keep the growth going, they need to restore the price above $2,646.

If that occurs, growth may lead to the test of the $2,700-$2,750 zone by the end of the week.

From the midterm point of view, the picture is similar. The volume keeps falling, which means neither buyers nor sellers are ready for a sharp move. In this case, sideways trading around the current prices is the most likely scenario.

Ethereum is trading at $2,567 at press time.

Source