Ethereum (ETHUSD) Price Might Head to $3,500 Supply Level

Ethereum (ETHUSD) Price Forecast: July 16

ETHUSD is likely to continue growing and might head to $3,500 supply level, achieving significant gains as the price movement suggests bullish continuation. The coin price might move higher above the current resistance level at $3,075 if buyers exert more force on the price action. Hence, the next price target could be the $4,000 upper resistance level, as we are seeing a strong turnout of buyers.

Key Levels:
Resistance Levels: $3,075, $3,076, $3,077
Support Levels:   $1,444, $1,443, $1,442

ETH (USD) Long-term Trend: Bullish (Daily Chart)

The ETHUSD price is going up despite minor corrections and might head to the upper range of the market as buyers remain dominant on the higher time frame.

The market shows that the price may now be trading in a new ascending channel.

Further, the coin is trading above the moving averages making higher highs and moving towards the upper resistance area.

The bulls pushed the cryptocurrency to a high of $3,022 in the last session, enhancing the price to stay in green and prepare for another resistance level in its recent correction.

The Ethereum price has moved up to a $3,075 supply mark above the EMA-50 as the daily chart resumes today, resulting from more concerns from the buy investors.

Therefore, should the bulls increase their swagger in the market, the price is poised to pump up above the key resistance levels around the $3,438.

Also, the momentum indicator pointing up indicates that the price of ETHUSD is in an uptrend and may remain in that direction to hit the $4,000 supply level and beyond in the long-term perspective.

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

The market price of ETHUSD is trending above the moving average, portraying a bullish trend due to high impact of buy traders in its medium-term outlook.
The successful push by the bulls to the $3,022 supply value in the previous action has enabled the coin price to remain in an uptrend at its recent high.

The bulls made a corrective rally to a $3,075 high level above the EMA-50 shortly after the 4-hourly session opens today, as the bulls brace up for a major uptrend, heading to the upper resistance region.

Hence, the bullish correction phase might head to the $3,040 prior high level if buyers increase their buying motives, reflecting promising growth.

Further, the Ethereum price is pointing upward, indicating an uptrend. As a result, the bullish race might reach the $4,000 upper resistance level in its medium-term outlook.

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