{"id":16203,"date":"2024-07-31T11:30:44","date_gmt":"2024-07-31T15:30:44","guid":{"rendered":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/"},"modified":"2024-07-31T11:30:44","modified_gmt":"2024-07-31T15:30:44","slug":"ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon","status":"publish","type":"post","link":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/","title":{"rendered":"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon?"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<h2>TLDR<\/h2>\n<ul>\n<li>Ethereum\u2019s price is currently battling resistance around $3,300-$3,400 after a recent downward correction.<\/li>\n<li>ETH is down about 6.5% since the launch of spot Ethereum ETFs on July 23, but ETF flows recently turned positive with $33.67 million in net inflows on July 30.<\/li>\n<li>The ETH\/BTC pair has gained 3.5%, suggesting potential for an altcoin season.<\/li>\n<li>Analysts are watching for a potential breakout above $3,400 that could push ETH towards $4,000.<\/li>\n<li>Market uncertainty remains due to factors like US government Bitcoin transfers and the upcoming FOMC meeting.<\/li>\n<\/ul>\n<p>Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is currently locked in a battle with key resistance levels as investors and analysts watch for signs of a potential breakout. As of July 31, 2024, ETH is trading around $3,312, down about 1% in the past 24 hours.<\/p>\n<p>The cryptocurrency has faced downward pressure since the launch of spot Ethereum ETFs on July 23, with the price dropping approximately 6.5% since then. This decline was primarily fueled by initial capital outflows from these new investment products. However, recent data suggests a potential shift in momentum.<\/p>\n<p>According to Farside Investors, the nine U.S. spot Ethereum exchange-traded funds saw net inflows of $33.67 million on July 30, ending a four-day streak of negative flows. This positive turn in ETF flows could signal renewed investor interest in Ethereum, potentially supporting its price in the near term.<\/p>\n<p>From a technical analysis perspective, Ethereum is currently grappling with resistance in the $3,300-$3,400 range. This area is significant as it coincides with both the 50-day and 100-day exponential moving averages (EMAs). A daily close above $3,400 could pave the way for ETH to challenge the psychologically important $3,500 level, with some analysts eyeing a potential run towards $4,000.<\/p>\n<p>However, the market remains cautious. The Relative Strength Index (RSI) on the daily chart is hovering around 49, suggesting that market conditions are currently neutral to slightly bearish. If Ethereum fails to breach the $3,330 resistance, it could face further downside pressure, with support levels identified at $3,250 and $3,230.<\/p>\n<p>Adding to the market dynamics is the performance of the ETH\/BTC pair, which has gained 3.5% to reach a ratio of 0.0491. This strengthening of Ethereum against Bitcoin has led some traders to speculate about a potential \u201caltcoin season\u201d on the horizon.<\/p>\n<p>The broader cryptocurrency market has been influenced by several external factors. Bitcoin, the largest cryptocurrency, recently touched $70,000 before correcting to around $66,000. This correction coincided with news of the U.S. government transferring 29,800 Bitcoin confiscated from the Silk Road dark web marketplace, sparking concerns of a potential sell-off.<\/p>\n<p>The crypto market is bracing for the upcoming Federal Open Market Committee (FOMC) meeting, which could impact investor sentiment and market direction.<\/p>\n<p>For Ethereum specifically, on-chain data from Santiment indicates growing interest in ETH along with Bitcoin and Solana, compared to more speculative assets like meme coins. While this focus on top-tier cryptocurrencies often precedes price increases, some analysts caution that it could also be a sign of market caution.<\/p>\n<p>Looking ahead, traders are closely watching technical indicators for signs of Ethereum\u2019s next move. The Moving Average Convergence Divergence (MACD) indicator on the ETH\/BTC chart is approaching a potential buy signal, which could drive further upside if confirmed. On the ETH\/USD chart, a bullish MACD crossover in positive territory suggests the path of least resistance may be upward.<\/p>\n<p>Ethereum bulls will need to overcome significant resistance levels to confirm a broader uptrend. A breakout above the inverse head-and-shoulders pattern on the ETH\/BTC chart and a breach of the 50-day and 200-day EMAs on the ETH\/USD chart would be seen as strongly bullish signals.<\/p>\n<div class=\"a-wrap a-wrap-base a-wrap-6 a-wrap-bg\"> \n<\/div><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/blockonomi.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TLDR Ethereum\u2019s price is currently battling resistance around $3,300-$3,400 after a recent downward correction. ETH is down about 6.5% since the launch of spot Ethereum ETFs on July 23, but ETF flows recently turned positive with $33.67 million in net inflows on July 30. The ETH\/BTC pair has gained 3.5%, suggesting potential for an altcoin [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-16203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.6 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon? - Sikaoer - The Best Crypto News Site.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon?\" \/>\n<meta property=\"og:description\" content=\"TLDR Ethereum\u2019s price is currently battling resistance around $3,300-$3,400 after a recent downward correction. ETH is down about 6.5% since the launch of spot Ethereum ETFs on July 23, but ETF flows recently turned positive with $33.67 million in net inflows on July 30. The ETH\/BTC pair has gained 3.5%, suggesting potential for an altcoin [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/\" \/>\n<meta property=\"og:site_name\" content=\"Sikaoer - The Best Crypto News Site.\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-31T15:30:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blockonomi.com\/wp-content\/uploads\/2024\/05\/bc-wide.gif\" \/>\n<meta name=\"author\" content=\"SikaoerAdmin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"SikaoerAdmin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/\"},\"author\":{\"name\":\"SikaoerAdmin\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67\"},\"headline\":\"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon?\",\"datePublished\":\"2024-07-31T15:30:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/\"},\"wordCount\":598,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/sikaoer.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-Price-Battles-Resistance-Is-a-Breakout-Coming-Soon.jpg\",\"articleSection\":[\"Ethereum\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/\",\"url\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/\",\"name\":\"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon? - Sikaoer - The Best Crypto News Site.\",\"isPartOf\":{\"@id\":\"https:\/\/sikaoer.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-Price-Battles-Resistance-Is-a-Breakout-Coming-Soon.jpg\",\"datePublished\":\"2024-07-31T15:30:44+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#primaryimage\",\"url\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-Price-Battles-Resistance-Is-a-Breakout-Coming-Soon.jpg\",\"contentUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-Price-Battles-Resistance-Is-a-Breakout-Coming-Soon.jpg\",\"width\":1400,\"height\":933,\"caption\":\"Ethereum\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/sikaoer.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/sikaoer.com\/#website\",\"url\":\"https:\/\/sikaoer.com\/\",\"name\":\"Sikaoer\",\"description\":\"Latest Bitcoin &amp; Cryptocurrency News\",\"publisher\":{\"@id\":\"https:\/\/sikaoer.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/sikaoer.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/sikaoer.com\/#organization\",\"name\":\"Sikaoer - The Best Crypto News Site.\",\"url\":\"https:\/\/sikaoer.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/04\/logo-2.jpg\",\"contentUrl\":\"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/04\/logo-2.jpg\",\"width\":150,\"height\":120,\"caption\":\"Sikaoer - The Best Crypto News Site.\"},\"image\":{\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67\",\"name\":\"SikaoerAdmin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sikaoer.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d9aa1aaa8881206cba9ed81b39cf5aee?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d9aa1aaa8881206cba9ed81b39cf5aee?s=96&d=mm&r=g\",\"caption\":\"SikaoerAdmin\"},\"sameAs\":[\"https:\/\/sikaoer.com\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon? - Sikaoer - The Best Crypto News Site.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/","og_locale":"en_US","og_type":"article","og_title":"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon?","og_description":"TLDR Ethereum\u2019s price is currently battling resistance around $3,300-$3,400 after a recent downward correction. ETH is down about 6.5% since the launch of spot Ethereum ETFs on July 23, but ETF flows recently turned positive with $33.67 million in net inflows on July 30. The ETH\/BTC pair has gained 3.5%, suggesting potential for an altcoin [&hellip;]","og_url":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/","og_site_name":"Sikaoer - The Best Crypto News Site.","article_published_time":"2024-07-31T15:30:44+00:00","og_image":[{"url":"https:\/\/blockonomi.com\/wp-content\/uploads\/2024\/05\/bc-wide.gif","type":"","width":"","height":""}],"author":"SikaoerAdmin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"SikaoerAdmin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#article","isPartOf":{"@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/"},"author":{"name":"SikaoerAdmin","@id":"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67"},"headline":"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon?","datePublished":"2024-07-31T15:30:44+00:00","mainEntityOfPage":{"@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/"},"wordCount":598,"commentCount":0,"publisher":{"@id":"https:\/\/sikaoer.com\/#organization"},"image":{"@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#primaryimage"},"thumbnailUrl":"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-Price-Battles-Resistance-Is-a-Breakout-Coming-Soon.jpg","articleSection":["Ethereum"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/","url":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/","name":"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon? - Sikaoer - The Best Crypto News Site.","isPartOf":{"@id":"https:\/\/sikaoer.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#primaryimage"},"image":{"@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#primaryimage"},"thumbnailUrl":"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-Price-Battles-Resistance-Is-a-Breakout-Coming-Soon.jpg","datePublished":"2024-07-31T15:30:44+00:00","breadcrumb":{"@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#primaryimage","url":"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-Price-Battles-Resistance-Is-a-Breakout-Coming-Soon.jpg","contentUrl":"https:\/\/sikaoer.com\/wp-content\/uploads\/2024\/07\/Ethereum-ETH-Price-Battles-Resistance-Is-a-Breakout-Coming-Soon.jpg","width":1400,"height":933,"caption":"Ethereum"},{"@type":"BreadcrumbList","@id":"https:\/\/sikaoer.com\/ethereum-eth-price-battles-resistance-is-a-breakout-coming-soon\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/sikaoer.com\/"},{"@type":"ListItem","position":2,"name":"Ethereum (ETH) Price Battles Resistance: Is a Breakout Coming Soon?"}]},{"@type":"WebSite","@id":"https:\/\/sikaoer.com\/#website","url":"https:\/\/sikaoer.com\/","name":"Sikaoer","description":"Latest Bitcoin &amp; Cryptocurrency News","publisher":{"@id":"https:\/\/sikaoer.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/sikaoer.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/sikaoer.com\/#organization","name":"Sikaoer - The Best Crypto News Site.","url":"https:\/\/sikaoer.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/sikaoer.com\/#\/schema\/logo\/image\/","url":"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/04\/logo-2.jpg","contentUrl":"https:\/\/sikaoer.com\/wp-content\/uploads\/2023\/04\/logo-2.jpg","width":150,"height":120,"caption":"Sikaoer - The Best Crypto News Site."},"image":{"@id":"https:\/\/sikaoer.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/sikaoer.com\/#\/schema\/person\/43f022757a102cf0dbe32031e6c7cf67","name":"SikaoerAdmin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/sikaoer.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d9aa1aaa8881206cba9ed81b39cf5aee?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d9aa1aaa8881206cba9ed81b39cf5aee?s=96&d=mm&r=g","caption":"SikaoerAdmin"},"sameAs":["https:\/\/sikaoer.com"]}]}},"_links":{"self":[{"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/posts\/16203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/comments?post=16203"}],"version-history":[{"count":0,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/posts\/16203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/media\/16204"}],"wp:attachment":[{"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/media?parent=16203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/categories?post=16203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sikaoer.com\/wp-json\/wp\/v2\/tags?post=16203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}