News View Non-AMP

What’s Next For Ethereum Now That Bitcoin Has Made A Bullish Statement?

Published by
Anjali Belgaumkar

Bitcoin surged from its lows of $60k, surprising everyone with nearly a 4 percent gain on July 1st. Other altcoins, including Ethereum, also saw gains, bringing renewed hopes to investors and analysts alike. Analyst Josh of Crypto World said that the price of ETH is currently holding above the 50% retracement level, which is acting as support around $3,350. 

This indicates a pause in the bearish trend, but no confirmation of a bullish trend reversal in the short term. On the 12-hour time frame, ETH is showing a bullish divergence, leading to a slight bullish relief and some sideways price action. However, ETH is still struggling with resistance around $3,450, and another significant resistance area between $3,600 and $3,650.

Potential Bullish Reversal

For ETH to flip much more bullish in the short term, it needs to break out above $3,650 with confirmation. Additionally, bullish reversal signals for Bitcoin would further support a positive trend for ETH, as the crypto market often follows Bitcoin’s movements. The 8-hour time frame shows an oversold signal in the Ethereum RSI, suggesting a potential pause or relief from the short-term bearish trend, though it doesn’t necessarily indicate the end of the bearish trend.

Solana Price Analysis

Looking at Solana on the 12-hour time frame, the price is holding above the critical area between $140 and $144, which has been significant resistance recently and support previously. If Solana can maintain this area as new support and confirm a bounce with green candles, it would indicate a bullish price structure. The next resistance levels to watch are $151 and $160. A confirmed breakout above these levels would indicate a bullish trend reversal. However, a break below $140 would invalidate the bullish breakout.

Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

Recent Posts

When Will Grayscale’s XRP ETF Finally Get Approved?

XRP’s journey through the crypto space has been nothing short of remarkable. With ProShares’ recent…

April 28, 2025

Adam Back Predicts Bitcoin Price Will Hit $500K to $1M by 2025 End

In the world of Bitcoin, few voices carry as much authority as Adam Back, CEO…

April 28, 2025

XRPFi Launch Tomorrow: Flare’s Big Reveal to Transform XRP Staking!

Exciting developments are unfolding for XRP holders as Flare Networks prepares to launch XRPFi, a…

April 28, 2025

Crypto News Today : Bitcoin Price, XRP News, Pi Network News , Zora Crypto

April 28, 2025 06:35:57 UTC Bitcoin Price Today Bitcoin held steady on Monday after a…

April 28, 2025

XRP Price Prediction 2025: Analyst Warns $1.25 Level Retest

The crypto market started this week with fresh gains and Bitcoin recorded gains of over…

April 28, 2025

Grayscale Urges SEC to Approve Staking for Ethereum ETFs

Grayscale recently met with the SEC's crypto task force, urging for approval to allow Ethereum…

April 28, 2025