Price analysis updated to July 20, 2022

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We present to you today a focused in-depth study on the analysis of Ethereum blocks (the second largest cryptocurrency by capitalization), which recently showed a significant recovery in its benchmark chart, leading experts and analysts to wonder what will happen to the token in the near future.

THE cryptocurrency values They are still trending down on an overall basis, especially considering the LATH recorded in November 2021 with stocks above $ 4,700 per single digital currency.

The reference framework compared to the previous year changes a lot. The recent downturn in the cryptocurrency market has seen many altcoins (such as Bitcoin) lose more than 50% of their value in a short period of time. A collapse that several currencies would try to recover thanks to interest rates and market demand.

Despite the tough times, Ethereum ranked last a significant boostwhich allowed him to receive one of the few green jerseys for recoveries this July 20, 2022. Let’s summarize what happened and what goal ETH has achieved.

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Ethereum (ETH): the $ 1,600 threshold has also been exceeded

The early hours of July 20, 2022 represented a fairly positive period for Ethereum, with odds not reached for several weeks. July 13 only levels over $ 1,000 per unit, for now they seem a distant memory.

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More precisely, by staring at a 24-hour chart, it is possible to see, like yesterday, who Ethereum value it was still at USD 1,582 in the final evening trading hours (Italian time). At first light, after a small correction, activity began to recover.

It initially crashed around $ 1,519 Wall of $ 1,540then exceeding 1580. New trusts then allowed to become even more lambi Milestone of $ 1,600 per ETHhowever, it only lasted a few minutes.

At the time of writing, Ethereum is trading at around $ 1,561 per unit. According to data from the informative and authoritative website CoinGecko, it shows a positive 7-day decline of around 50% and a 24-hour fluctuation of around -0.1%.

Problems that have prompted experts and analysts to start looking for potential neighbors points of support and resistance. More specifically, a channel that should be kept largely under control, namely that of $ 1,750 and $ 1,950. One of the most anticipated moves remains the $ 1,800 hit, which was made in the past and has now been missing for several weeks.

Therefore, what can be highlighted is that while the global chart still shows falling stocks, on the other hand the shy climb it certainly cannot be ignored.

Final comments

In any case, from the above data one can see a strong Volatility of cryptocurrencies, with abrupt changes from top to bottom and vice versa. Never as in this case it is essential to be constantly informed about the variations of the instrument.

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You can rely on practice real-time graphics offered for free by the best online brokers. With them, you can see how the token is moving in the market and compare current values ​​with historical values.

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After studying the asset’s trends, you can trade independently place strategy both via desktop web mode and via mobile app. You can also decide to trade directly on the underlying asset (by purchasing the cryptocurrency) or to trade with derivatives (eg CFDs).

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