Ethereum retains prices above $1000 as prices jump 2%
Ethereum price analysis for July 3, 2022, comes on a bearish note for the world’s 2nd biggest cryptocurrency as the chances of the Ether token reclaiming the $1100 price level remain low. Additionally, it is also a fact that the ETH token tried its hardest to reclaim $1100 as per our ETH price analysis for July 2, 2022, but failed to do so after the Ether bears started dominating the price action. Furthermore, another important point to note is that ETH has a major price resistance beyond $1200, and investors are expected to try to breach this region. Moreover, Ether is more than 78% low than its all-time high.
The data from CoinMarketCap shows that the trading volume of the coin dropped by 42.50% in the last 24 hours, followed by a 0.76% surge in the market cap. Moreover, the Volume / Market Cap has a value of 0.06727, while the Market Dominance dropped to 14.80%.
The daily candle for Ethereum opened at a price of $1067 and reached a daily high of $1088. On the other hand, the daily low for ETH stands at a price of $1040. The price of 1 ETH at the time of writing is $1073.
Ethereum price analysis for July 3 on the daily chart
Ethereum price analysis for July 3, 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 34 which means that the Ethereum bears remain in charge of the price action and sluggish movement continues.
The MACD indicator shows that the MACD line is very close the signal line and hence a bearish divergence is very likely to happen if ETH loses $1000.
The price action for Ethereum is retesting the lower region of the Bollinger Bands which means that a bearish breakout might follow.
Conclusion
Ethereum price analysis for July 3, 2022, ends on a bearish note for Ether with a low possibility of ETH reclaiming $1100.
