Ethereum price analysis for July 19, 2022, comes on a bullish note for the world’s 2nd biggest crypto as we can confirm that the prices have surged by more than 14% in the last 24 hours and investors can expect higher highs in the coming days as well. Furthermore, it is also important to note that the Ether token was able to break above the $1500 price level and it seems that the cryptocurrency aims for the $1600 price level now. However, if the $1500 price region retains as support, investors can hope for a move towards $1800 as well.
As noted in our Ether price analysis for July 18, 2022, there is a strong support for the token at the $1000 price region and there are strong chances that if Ether turns bearish after the price surge, the $1K price level might be retested.
The data from CoinMarketCap shows that the trading volume of the coin surged by 84.15% in the last 24 hours, followed by a 17.78% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.1496, while the Market Dominance rose to 18.44%.
The daily candle for Ethereum opened at a price of $1581 and reached a daily high of $1631. On the other hand, the daily low for ETH stands at a price of $1559. The price of 1 ETH at the time of writing is $1579.
Ethereum price analysis for July 19, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.
Source: TradingView
The RSI indicator reads a value below 69 which means that the Ethereum bulls are still in control of the price action.
The MACD line is moving away the signal line confirming and the bullish intensity of the MACD histogram continues to increase.
The price action for Ethereum is has broken out of the upper end Bollinger Bands which means a bullish breakout.
Ethereum price analysis for July 19, 2022, ends on a bullish note for Ether with high chances of retesting $1800.
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