A crypto analyst stated that Ethereum continues to show resilience on the daily time frame on July 7. After a consolidation period, ETH holds over the key support level and maintain its higher low structure, and if ETH defends its current interval, the road to higher goals will remain intact.
Ethereum holds above the key support zone
In an X post, believers acute Ute that ETH has recycled the keyfibonacci support to $ 2,572 and now grinds higher against the resistance level. The immediate focus is to turn $ 2,605 into support, which would confirm short -term haussey control and open the door against $ 2,665, which is the next Key resistance level.
Technically, the indicators begin to benefit the bulls, and relative strength index (RSI) is at 55.73, while the moving average convergence Divergence (MACD) has crossed to a positive territory and signals growing momentum. The support is also $ 2 503, while the resistance is at $ 2,605, $ 2,665 and $ 2,759.
Believers notes that bulls want to break the stubborn scope Over $ 2,665. He also stated that patience can soon pay, as signs of accumulation, rising indicators and price pressing against resistance.
Another analyst, Crypto Bureau Xlab, also analyzed That Ethereum is coiling for a breakout of a rising triangle pattern on the 4-hour chart. A confirmed breakout over $ 2,720 can ignite a sharp rally against the region $ 3,50 with speed building, which is a haus -like continuing pattern.
However, XLAB warns of one potential Refusal scenario, that if ETH does not break through the $ 2,720 zone, it may lose short -term haisse -like speed, which can send ETH back to testing deeper support close to $ 2,100 to $ 2,000 zone, which has previously served as a strong accumulation zone.
Breakout could trigger rapid rise toward $ 4,000
Crypto Jaibrah also took to X to reveal The fact that Ethereum is forming a breakout, with a massive cup and handle formation that develops on a 3-day chart, a haus-like pattern that often precedes explosive features.
ETH finds support on the exponential variable average (EMA), which shows that the trend remains intact and structurally strong. A confirmed outbreak over $ 2,850 activates the price target to $ 4,000. Ethereum also undergoes a significant Bollinger width that pushes on The diagramA reliable signal that shows that volatility is about to expand, and these periods of compression often lead to sharp directional movements.
The Volume Range Visible Profile (VRVP) reveals a remarkable volume gap between $ 2,850 and $ 3,200, which means there is little resistance in that zone. If ETH breaks over $ 2,850, The price could quickly accelerate against $ 3,200 with minimal friction.
Trained Image from Istock -pictures, charts from tradingview.com
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