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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    CryptoPunks and Pudgy Penguins Draw Major Sales

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

    Ethereum Collections Lead NFT Sales Today

    how NFTs became a global brand and a Web3 “social currency”

    how NFTs became a global brand and a Web3 “social currency”

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

    Pixel Vault Removes CEO Following Self-Dealing and Rug Pull Accusations

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    CryptoPunks Floor Price Hits 3-Year High of $208,000

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

    The Biggest Games Releasing in August 2025

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Early Off the Grid Skin Holders Are Cashing In – Will You?

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

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    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

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  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    LFG Boosts Token Launches with Community Power

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  • AI
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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

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    ChatGPT is a tad too enthusiastic about Ethereum’s prospects

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    What’s the Difference & Which Is Better to Trade?

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    Think Your Cold Wallet Is Safe? Not If You Make These 7 Mistakes

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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  • Analysis
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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Ethereum

Etheruem’s next price target: ETH can cross $3700, IF…

July 14, 2024
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Etheruem’s next price target: ETH can cross $3700, IF…
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  • Ethereum has a bearish market structure on the daily chart but still targets the next key resistance zone.
  • The volume has been sub-par in recent days, hence a retracement next week is possible.

Ethereum [ETH] clambered back above the $3k level, and in an interesting turn of events for the bulls, the $3.1k former resistance zone was flipped to support.

The balancing act between whale deposits and exchange reserves showed that the recent deposits were minor compared to the outflows of the past two months.

The Ethereum network’s gas fee reached May’s lows, a sign of reduced network activity. This was not a positive sign and reflected reduced on-chain demand and slow growth.

Volume indicators ambivalent despite the breakout

Ethereum 1-day Chart

Source: ETH/USDT on TradingView

On Saturday the 13th of July, Ethereum closed a daily trading session at $3,201, breaking out of the resistance zone in the $3.1k area. Despite this achievement, the market structure and momentum were bearish in the daily timeframe.

Moreover, the CMF showed a reading of -0.05 which signaled notable capital flow out of the market. The OBV was unable to start an uptrend as buying volume stuttered over the past ten days. This meant that the volume was too weak to be taken as a clear signal of bullish strength.

The daily RSI was at 45 to signal bearish momentum but has crept higher over the past week. As things stand, Ethereum might not be ready for a swift upward move unless more volume enters the market.

Liquidation heatmap’s clues on the next resistance

Ethereum Liquidation Heatmap

Source: Hyblock

The $2.7k-$2.8k zone to the south was an attractive pool of liquidity. It was tested in the first week of July but not wholly swept.

See also  Binance loses 300K ETH – Here’s what it means for bulls eyeing $2.7K

The subsequent price bounce above $3.1k meant the next liquidity cluster at $3.5k-$3.7k would be the target for bulls.

Ethereum Coinalyze

Source: Coinalyze


Is your portfolio green? Check the Ethereum Profit Calculator


The Open Interest has climbed alongside the prices and the funding rate was positive. The sentiment was strongly bullish, and the spot CVD was recovering too.

If the trend remained intact, the chances of an ETH move toward $3.6k would become healthier.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Next: Can Dogecoin replicate its 2021 bull run? Key metrics suggest…

READ ALSO

Ethereum Looks Ready To Break Out Of 4-Year Consolidation, Analyst Says Price Will ‘Go Insane’

Binance loses 300K ETH – Here’s what it means for bulls eyeing $2.7K

  • Ethereum has a bearish market structure on the daily chart but still targets the next key resistance zone.
  • The volume has been sub-par in recent days, hence a retracement next week is possible.

Ethereum [ETH] clambered back above the $3k level, and in an interesting turn of events for the bulls, the $3.1k former resistance zone was flipped to support.

The balancing act between whale deposits and exchange reserves showed that the recent deposits were minor compared to the outflows of the past two months.

The Ethereum network’s gas fee reached May’s lows, a sign of reduced network activity. This was not a positive sign and reflected reduced on-chain demand and slow growth.

Volume indicators ambivalent despite the breakout

Ethereum 1-day Chart

Source: ETH/USDT on TradingView

On Saturday the 13th of July, Ethereum closed a daily trading session at $3,201, breaking out of the resistance zone in the $3.1k area. Despite this achievement, the market structure and momentum were bearish in the daily timeframe.

See also  Is The PEPE Dream Over? Analyzing The Meme Coin's Price Drop

Moreover, the CMF showed a reading of -0.05 which signaled notable capital flow out of the market. The OBV was unable to start an uptrend as buying volume stuttered over the past ten days. This meant that the volume was too weak to be taken as a clear signal of bullish strength.

The daily RSI was at 45 to signal bearish momentum but has crept higher over the past week. As things stand, Ethereum might not be ready for a swift upward move unless more volume enters the market.

Liquidation heatmap’s clues on the next resistance

Ethereum Liquidation Heatmap

Source: Hyblock

The $2.7k-$2.8k zone to the south was an attractive pool of liquidity. It was tested in the first week of July but not wholly swept.

The subsequent price bounce above $3.1k meant the next liquidity cluster at $3.5k-$3.7k would be the target for bulls.

Ethereum Coinalyze

Source: Coinalyze


Is your portfolio green? Check the Ethereum Profit Calculator


The Open Interest has climbed alongside the prices and the funding rate was positive. The sentiment was strongly bullish, and the spot CVD was recovering too.

If the trend remained intact, the chances of an ETH move toward $3.6k would become healthier.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Next: Can Dogecoin replicate its 2021 bull run? Key metrics suggest…
Tags: CrossETHEtheruemsIF..PriceTarget

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