{"id":20899,"date":"2024-07-19T18:03:55","date_gmt":"2024-07-19T18:03:55","guid":{"rendered":"https:\/\/buycrypt.com\/blog\/?p=20899"},"modified":"2026-07-14T15:51:07","modified_gmt":"2026-07-14T15:51:07","slug":"ethereum-price-analysis-is-3-7k-realistic-for-eth-or-is-a-correction-to-3k-coming","status":"publish","type":"post","link":"https:\/\/buycrypt.com\/blog\/en\/ethereum-price-analysis-is-3-7k-realistic-for-eth-or-is-a-correction-to-3k-coming\/","title":{"rendered":"Ethereum Price Analysis: Is $3.7K Realistic for ETH or is a Correction to $3K Coming?"},"content":{"rendered":"

Following a revival in buying interest and demand, Ethereum\u2019s price has surged, reclaiming the 100 and 200-day moving averages.<\/strong><\/em><\/p>\n

This price action suggests a shift towards a potential rally, with buyers targeting a new yearly high in the mid-term.<\/p>\n

Technical Analysis<\/h2>\n

By Shayan<\/a><\/p>\n

The Daily Chart<\/strong><\/h3>\n

A detailed analysis of Ethereum\u2019s daily chart reveals that after a notable increase in buying pressure near the substantial $3K support region, the cryptocurrency initiated a bullish spike, surpassing the 100-day ($3340) and 200-day ($3152) moving averages.<\/p>\n

Additionally, ETH has reclaimed the significant resistance region of $3.5K, a crucial barrier for buyers in recent months. This price action indicates a strong buyer presence in the market, aiming for a new yearly high.<\/p>\n

However, Ethereum has formed a sideways wedge pattern over the recent months. It is expected to continue its upswing after a short-term period of market consolidation, aiming to breach the wedge\u2019s upper boundary at $3.7K. Successfully surpassing this level could lead to a new yearly high above $4K.<\/p>\n

\"eth_price_chart_1807241\"<\/p>\n

The 4-Hour Chart<\/strong><\/h3>\n

On the 4-hour chart, an increase in bullish momentum led to an impulsive surge, breaking the multi-month descending trendline.<\/p>\n

This impulsive move also saw the price reclaim the significant $3.3K resistance region, previously filled with supply. This development reflects strong buyer interest in the market, aiming for higher levels in the long run.<\/p>\n

However, Ethereum reached its prior major swing high in the 4-hour timeframe, resulting in sideways consolidation.<\/p>\n

This swing serves as a robust resistance level, and breaking above it could pave the way for another impulsive surge toward the key $3.7K resistance zone. The ongoing consolidation phase is a positive sign for the market, confirming the recent breakout above the trendline and completing a pullback to it. If the price surpasses its prior central pivot of $3524, the continuation of the bullish movement will become imminent.<\/p>\n

\"eth_price_chart_1807242\"<\/p>\n

Sentiment Analysis<\/h2>\n

By Shayan<\/a><\/p>\n

While Ethereum\u2019s price has experienced a bullish reversal, a closer examination is essential to determine if the bullish trend will persist. The chart highlights the Taker Buy\/Sell Ratio, a crucial metric for evaluating futures market sentiment. Values above 1 indicate aggressive buying by bulls, while values below 1 suggest bearish selling pressure.<\/p>\n

As depicted in the chart, the Taker Buy\/Sell Ratio surged above 1, simultaneously with the bullish revival in Ethereum\u2019s price. This surge indicates strong buying interest in the perpetual market, suggesting a notable bullish sentiment. If this upward trend in the Taker Buy\/Sell Ratio continues, it confirms a potential mid-term bullish trend in the market, with the price likely rallying toward higher values.<\/p>\n

\"eth_taker_buy_sell_ratio_chart_1807241\"<\/p>\n

Source: www.cryptopotato.com<\/p>\n

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