Ethereum (ETH) Price Analysis for July 17
Buyers keep setting new local peaks as the top 10 coins are in the green zone.
The rate of Ethereum (ETH) has risen by almost 15% over the last week.
In the local time frame, Ethereum (ETH) is stuck between the support at $1,313 and the resistance at $1,386. The price is closer to the upper level at the moment, which means that bulls are more powerful than bears.
If the pressure continues, there is a chance to see the leading altcoin near the $1,400 mark by the end of the day.
On the daily chart, Ethereum (ETH) is fixed above the vital level at $1,281. Until the price is above it, bulls control the situation on the market. In this case, the more likely scenario is sideways trading between $1,300 and $1,400, so bulls could accumulate energy for a further upward move.
From the midterm point of view, Ethereum (ETH) is looking bullish as the price has broken the $1,300 mark. Thus, the buying volume is rising, which means that one can expect an approximate rate of $1,500 within the next few weeks.
Ethereum is trading at $1,356 at press time.
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