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HomeLatestEthereum Price (ETHUSD) Declines Again: Forecast for July 8, 2024
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Ethereum Price (ETHUSD) Declines Again: Forecast for July 8, 2024

Ethereum (ETHUSD) Price Analysis

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After displaying positive trading sessions recently, Ethereum (ETHUSD) has initiated today’s trading with a clear decline, settling below the critical level of 2905.30$. This movement reinforces our bearish outlook, with the next target identified at 2623.80$.

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The ongoing bearish sentiment is bolstered by the negative pressure exerted by the EMA50 indicator, affirming the continuation of the downward trend. This bearish scenario will remain valid as long as Ethereum maintains stability below the key resistance level of 2905.30$.

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Expected Trading Range

The anticipated trading range for today is expected to fluctuate between a support level of 2750.00$ and a resistance level of 3000.00$.

Trend Forecast: Bearish

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