Ethereum (ETHUSD) Next Price Target could be the $2,880 Supply Level

Ethereum (ETHUSD) Price Forecast: July 1

ETHUSD is likely to continue growing, and the next price target could be the $2,880 supply level, as a bullish correction is in place. The 4-hour candle breakout at the $2,475.17 high level suggests that buyers are attempting a recovery. Thus, if the crypto’s price sustains above the $2,672.24 high level, the potential rally could surge higher to hit a $2,880 upper resistance value, regaining investors’ attention amid the increasing bullish move.

Key Levels:
Resistance Levels: $2,500.00 $2,600.00, $2,700.00
Support Levels: $2,156.00, $2,155.00, $2,154.00

ETH (USD) Long-term Trend: Bullish (4H Chart)

ETHUSD rebounded after completing its lows. The next price target could be a resistance close to the upper channel on the higher time frame.
The market shows that the price may now be trading in a new ascending channel.

Furthermore, the coin is trading above the moving average, suggesting a bullish trend.

Market price reversal at level $2,475.17 above the moving average as the 4-hourly chart resumes today indicates that Ethereum’s investors are active and ready to move the price up to a significant level at the upside.

Therefore, if the bulls step up their actions, the ETHUSD price may surge above the key levels at $2,672.24, resulting in intraday gains for interested traders.

In addition, a 4-hourly closing candle above the $2,672.17 previous high level could invalidate the bearish outlook, and the next price target could be the $2,880.00 upper resistance value and beyond in its long-term perspective.

ETH (USD) Short term Trend: Bullish (1H Chart)

The momentum on the medium-term outlook is in an ascending channel as can be seen from the chart below. The coin prices are above the EMA-50 and the next price target could be the $2,880 at the upper channel.
The bullish impact to $2,503.63 in the last action has sustained the Ethereum price above the supply line in its recent high.

Despite the interactions from short traders, the bulls caused a rise to a $2,475.12 supply level above the moving average as the 1-hourly chart opens today, suggesting an uptrend in the context of the market implying that buyers are still dominant.

Thus, buyers must add more pressure to their activities to move the market beyond the current price level.

However, the price of ETHUSD may rise further if the current support level at $2,451.02 holds. In light of this, the next price target could be the $2,880 upper resistance level, indicating a bullish breakout.

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