Ethereum Price Watch: Signs of Recovery Emerge as Bulls Set Sights on $3,400
Ethereum is currently trading at $3,374, showing intraday fluctuations between $3,253 and $3,395. With a market cap of $407 billion and a 24-hour trading volume of $11.49 billion, ETH remains highly active.
The hourly chart reveals a recovery from a low of $3,198.6, approaching $3,400, but also suggests consolidation or resistance at this level. On the 4-hour chart, ETH rebounded from $3,086.8 to stabilize around $3,350-$3,400, with mixed market sentiment indicating potential for a breakout or further consolidation. The daily chart shows a strong recovery from a July 4 low of $2,803 to a high of $3,565, though resistance at $3,565 poses a challenge.
Technical indicators present a bullish outlook overall, supported by moving averages, but mixed signals from oscillators and resistance levels suggest caution. Traders should watch for potential breakouts or bearish reversals.
Clever Robot News Desk 30th July 2024
