Ethereum continues to oscillate between $2,486.93 and $2,547.50, losing momentum since the beginning of the month. Let's review the current market conditions and possible price movement scenarios.
Current Market Situation of Ethereum
The current price of Ethereum is $2,514.81. After peaking near $2,800 in June, ETH has steadily formed lower highs and has not managed to regain control after a slight loss of momentum. The price has settled under resistance at $2,575 and above support at $2,480.
Technical Indicators and Their Signals
Indicators show mixed signals. The MACD indicates bearish momentum, while the ADX suggests strength in the trend is building. RSI and CCI remain neutral, indicating uncertainty in the market. Key values include:
- MACD: -3.23 (bearish signal) - ADX: 32.31 (buy signal) - RSI: 50.85 (neutral) - Ultimate Oscillator: 42.61 (leaning bearish) - Bull/Bear Power: 8.3078 (buy signal).
Ethereum Price Predictions
Three possible scenarios are forecasted. In a bullish scenario, a strong break above $2,600 could open the door to $2,700 or $2,800. A neutral scenario may manifest if the price remains in the $2,480 to $2,575 range. A bearish scenario suggests that dropping below $2,480 could lead to lower levels like $2,350 or $2,200.
Currently, Ethereum remains in a state of uncertainty, oscillating between support and resistance levels. Future price movements will hinge on exiting the current range of $2,480–$2,575.
