Ethereum price analysis for July 15, 2022, comes on a bullish note for the Ether token as it is clear that the prices of the token have surged by more than 7% in the last 24 hours and investors can expect higher prices in the coming days as well if the bulls take over the price action of the 2nd biggest cryptocurrency in the market. Furthermore, it is clear that the token is in a downtrend in the long term but in the short term, the bulls are aiming to reclaim the $1200 price level which is a major resistance zone.
As noted in our Ethereum price analysis for July 14, 2022, Ethereum has tested the $1K support a number of times and now is retesting the nearest resistance beyond the $1200 price region.
The data from CoinMarketCap shows that the trading volume of the coin dropped to 8.31% in the last 24 hours, followed by a 7% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.1157, while the Market Dominance rose to 15.66%.
The daily candle for Ethereum opened at a price of $1115 and reached a daily high of $1214. On the other hand, the daily low for ETH stands at a price of $1072. The price of 1 ETH at the time of writing is $1092.
Ethereum price analysis for July 15 on the daily chart
Ethereum price analysis for July 15, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.
The RSI indicator reads a value below 49 which means that the Ethereum bulls are nearly in control of the price action.
The MACD line is moving away the signal line and a bearish divergence has been prevented.
The price action for Ethereum has broken above the middle zone Bollinger Bands which means that buyers aim for higher prices.
Conclusion
Ethereum price analysis for July 15, 2022, ends on a bullish note for Ether with high chances of retesting $1200.
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