Ethereum Analysis for July 2022: Technical Analysis & Price Forecast for Investors

Ethereum is currently trading at a price of just over USD 1100 and has had a real roller coaster ride in the last few months. How does it go from this? One thing is for sure, Ethereum remains a unique cryptocurrency as it enables the development of decentralized or “Defi” functions. Also, by looking at the image of the charter, it can be assumed that Ethereum could gain some value as more and more companies move to Defi and the ETH blockchain has proven itself.

However, Ethereum is not without risk, there are by far more efficient networks that are more popular among connoisseurs. Investment is always a risky undertaking. But those who take such a risk and expect high results can also watch out for alternative tires.

Current Ethereum course: a plan for short-term losses

Ethereum price suffered another recession today. It lost more than 2% in value, confirming its poor performance over the past few months. However, the big sale now seems to have come to an end and the base is moving sideways, leaving many investors with questionable expectations. Where does the journey go from here?

A closer analysis of the price of ETH shows that further selling and risk of disadvantage are high, but there are also signs of optimism. So recent developments in the network could help boost investor confidence in the long run. However, it remains to be seen whether Ethereum can recover in the near future or whether the price will continue to fall.

ETH optimistic price projection

ETH / USD may be on its way to higher prices now. After bouncing off the support, the price continues to climb higher. Since it was an interim low on June 18, when the price of Ethereum fell just below USD 1,000, the image of the chart has stabilized slightly. There are certainly signs that there is still little correction in the short term, but growth may follow.

For optimists, the market situation does not look so bad. They are expecting low prices and assuming a clear bottom line. Hence, there are many signs that the bulls are trying to take control of the ETH / USD pair. Therefore, for those who want to take risks, it is recommended to open long positions with targets at USD 1140 and even USD 1240. At best, the price may rise even more. Finally, ETH may be in a rising triangle, which generally implies that the price is about to rise.

However, no breakout has yet occurred, so traders can wait for such a breakout before actively trading. The expected shift is as large as the measured price shift (AB = CD) on the chart, but this would be unrealistic given current market conditions. The bears are still too strong and are demanding a lot of effort to raise prices again. Therefore, various traders are now assuming that the price will be able to reach USD 1410 for the time being. Of course, this level is subject to change depending on market conditions.

But don’t forget to place the stop-loss just below the final low. If Ethereum’s price breaks below this level, it will indicate that the downturn is continuing. In this case, we recommend selling Ethereum with deep targets at USD 640 and even USD 400.

DeFi Coin could be another investment

In the world of cryptocurrencies, there are always new market participants who want to ruin the status quo. DeFi Coin is one such project that aims to make a splash in the industry.

The sign is designed to generate regular revenue through liquidity farming, but it remains to be seen whether this will work in practice.

However, with the price of ETH showing up over the past few weeks, DeFi Coin could be an attractive investment option for those looking to try a smaller cryptocurrency. It remains to be seen whether the project delivers on its promise, but it could certainly have a big impact in this space.

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How to enter the Lucky Block lottery

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Step 3: Buy a lottery ticket

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Photo by Art Throat