On Thursday, July 4th the ETH is slightly declining; however, there seems to be no reason for worrying. It is generally trading around 296.14 USD.
Ethereum price is set to undergo a 52 days bull-strike as crypto analysts base their bullish predictions on the current rise in transaction volume of the second most used cryptocurrency in the world.
Ethereum price surpassed the barrier at $318 level, price retracement is done by the Bears, and the Bulls may break up $351 level and target $375.
Ethereum price has carried out a pullback and ready for the bullish movement continuation. Ability to break up the barrier at $318 level will expose the coin to the $351 supply level.
The ETH stopped rising for a while on June 20, now consolidating around $267.78.
The bullish breakout at $227 supply zone is envisaged should the Bulls gain enough pressure and Ethereum price may rally to the previous level of $289. In case the Bears continue to defend the $227 level consolidation may continue.
Should the Bears continue to exert pressure as it is currently displaying, Ethereum price may retest $258 demand level. The interruption of the Bulls to the Bearish current movement will push up the price to reach $289 level.
After the Ethereum price retest, the bullish momentum may place the price at $289 level in case the Bulls defend the $259 level.
In case the Bulls breakout at the upper trend line of the wedge, Ethereum price may rally towards $289 level provided the Bulls penetrate $258 level. ETH price may reverse as it has touched the upper trend line of the wedge.