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Ethereum Technical Analysis: ETH Clings to $3,000 Threshold Post-Rebound

July 8, 2024

Category:

Ethereum

The 1-hour ETH/USD chart reveals a recent uptrend beginning at $2,803, marked by a significant bullish candle reaching $3,096 before a slight pullback. A bullish engulfing pattern indicates a potential continuation of this uptrend, though the last few drops suggest consolidation. Volume analysis shows a spike during the bullish move, but decreasing volume during consolidation suggests that if volume increases, the uptrend may continue.

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