Ethereum Price Prediction and Analysis for July 20th – ETH Rallies Past $1,600, “Merge Trade” Bull Run Continues

2022-7-20 17:38

Ethereum’s price continues to rally this week, rising by over 52% in the past seven days, up over 3% in the past 24 hours. ETH recently surpassed the $1,600 level, currently testing it as newfound support as the global cryptocurrency market surges past $1.07 trillion in market capitalization. Ethereum is leading Bitcoin this week as traders continue to buy ETH in hopes of capitalizing on the upcoming network merge in September that’s set to transition Ethereum’s blockchain from a proof-of-work to a proof-of-stake consensus model.

Let’s look at several Ethereum price predictions, both positive and negative, and cover any relevant ETH news that could be influencing today’s price.

Ethereum News

Last week, Ethereum’s successful Shadow Fork 9 integration with its mainnet spurred excitement around the cryptocurrency’s upcoming network merge, contributing to the substantial bullish rally we’re currently seeing.

With news of ETH2.0 around the corner, the market’s attention shifted towards Ethereum dApps that will likely capitalize on the proof-of-stake network switch.

Lido, a liquidity staking solution enabling users to stake their ETH and earn yield rewards simultaneously, saw a price hike of over 150% earlier this week as traders flocked to the platform. Lido enables users to stake their ETH and receive stETH tokens on a 1:1 ratio, which can be used to earn additional rewards in the form of liquidity mining or yield farming. Lido’s platform enables traders to “double dip” with their Ethereum tokens.

In other news, EthCC (The Ethereum Community Conference) is currently being held in Paris (July 19th-21st) and is another contributor to the current bull market rally for ETH.

A common trend in crypto is an underlying cryptocurrency rising in value during a major conference that brings traders and investors together, creating significant influence in the markets.

EthCC is the largest European Ethereum event focusing on its community and the tech behind the blockchain. It is no surprise that the gathering is contributing to Ethereum’s spectacular bullish momentum.

Last but not least, we’ve been seeing Ethereum-reliant projects like Polygon’s MATIC exhibit substantial price growth of over 68% this week. According to a report from Coindesk, a sudden rise of EVM-Compatible ZK Rollups came from Polygon, Matter Labs, and Scroll.

“Each team appears to be in the home stretch of launching a zkEVM (zero knowledge Ethereum Virtual Machine), a kind of technology – once thought to be years away – that will allow users to transact on Ethereum with lower fees and shorter delays.”

Polygon announced during EthCC this week that it’s planning on integrating Polygon zkEVM to its mainnet, which was recently released as an open source for the community to explore. Polygon’s zkEVM tool would be a significant leap forward in the scaling technology for Ethereum and other existing smart contracts and wallets.

As many crypto enthusiasts know, Ethereum’s expensive user experience is a significant drawback to using the blockchain. Polygon’s zkEVM will take layer-1 blockchains closer to a seamless, inexpensive, and limitless UX.

Ethereum Price Prediction

With Ethereum’s price rally past the $1,500 level, the digital asset is looking to test the next primary resistance/support level around the $1,750 – $2,000 range.

ETHUSD 3M // Source: CoinMarketCap

Looking at the three-month chart for ETHUSD, we notice that Ethereum traded around the $1,800 level for over a month between May-June. This means the cryptocurrency will likely attempt to reach those levels in the next several days as the “merge trade” pushes prices higher.

Ethereum price is currently testing the $1,600 support, up over 4% in the past 24 hours and over 54% in the past seven days. Ethereum’s market cap is at $194 billion, with a 24-hour trading volume of $24 billion.

One statistic worth noting is the 24-hour trading volume dropped over 17% in the past day, potentially signaling a slowdown in market momentum. Moreover, with EthCC over tomorrow, we could see a slight downturn in Ethereum’s price growth as cryptocurrency and global markets cool down.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: stlegat/123RF

The post Ethereum Price Prediction and Analysis for July 20th – ETH Rallies Past $1,600, “Merge Trade” Bull Run Continues appeared first on NullTX.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3346.03 (-0.07%)
Объем 24H $46.182b
Изменеия 24h: 7.33 %, 7d: 8.11 %
Cегодня L: $3039.69 - H: $3364.01
Капитализация $402.954b Rank 2
Цена в час новости $ 1562.4 (114.16%)

past continues ethereum eth price hours seven

Источник: nulltx.com

past continues → Результатов: 126


Ethereum Price Rises Above $1,500, Up 43% This Week, LidoDAO Price Up 159%

Ethereum price continues to show significant upside, rising past $1,500 and trading at $1,538 at the time of writing. ETH saw considerable price growth of over 43% in the past seven days, caused mainly by the “merge trade,” as investors and traders anticipate a network merge in September, which will switch Ethereum’s consensus model from […] The post Ethereum Price Rises Above $1,500, Up 43% This Week, LidoDAO Price Up 159% appeared first on NullTX.

2022-7-20 17:58


Фото:

ApeCoin Price Hits New ATH, up 17% Amid New Babylon Finance Proposal

While most cryptocurrency markets are showing bearish momentum today, ApeCoin continues its meteoric growth, rising by over 17% in the past 24 hours and setting a new all-time high of $17. Let’s take a closer look at ApeCoin and its token APE and see why the cryptocurrency is rising so much? ApeCoin News While the […] The post ApeCoin Price Hits New ATH, up 17% Amid New Babylon Finance Proposal appeared first on NullTX.

2022-4-23 16:49


Now Or Never: Bitcoin Builds Base At Decade-Long Parabolic Curve

The masses are bearish on Bitcoin. The market is convinced that prices below $30,000 will be revisited given the continued weakness in the top cryptocurrency by market cap.  All eyes are on the massive “bear flag,” but could it instead be a bear trap? Bitcoin price continues to grind along a decade long parabolic trend line that in the past has put in several mid- to long-term bottoms.

2022-4-20 17:44


Bitcoin Open Interest Continues To Rise, Short Squeeze Incoming?

On-chain data shows Bitcoin open interest and estimated leverage ratio metrics have continued to rise recently. This could mean that a short squeeze may be coming soon. Bitcoin Open Interest Rises Despite Decline In Price As pointed out by an analyst in a CryptoQuant post, the BTC open interest has shown uptrend over the past month, despite the price of the crypto moving down.

2022-1-11 22:00


This Bitcoin on-chain analyst says retail hasn’t “bought the dip this hard” since the Covid crash

While the Bitcoin price continues to stubbornly move sideways, market watchers are wondering how the year will end–is there time for another rally or will the support at $46.000 cave? Despite the tight trading range over the past two weeks, popular Bitcoin on-chain analyst Willy Woo pointed out indicators that are showing no signs of […] The post This Bitcoin on-chain analyst says retail hasn’t “bought the dip this hard” since the Covid crash appeared first on CryptoSlate.

2021-12-16 11:00


Фото:

Hololoot: An Augmented Reality (AR) NFT Generator and Marketplace for the Metaverse

Blockchain continues to expand with the introduction of new concepts like decentralized finance (DeFi) and non-fungible tokens (NFTs) attracting the attention of mainstream media. The DeFi sector has risen from a valuation of $50 billion to over $200 billion in the past 12 months and NFTs have transformed how we think about art and introducedRead More

2021-12-6 14:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Polygon surges 22% in 7 days: Is $0.45 next for POL?

POL has surged by over 22.24% over the past week. Market fundamentals suggested a potential upsurge to a recent high of $0.45. After a sustained decline, Polygon [POL] has seen a turn in forThe post Polygon surges 22% in 7 days: Is $0.45 next for POL? appeared first on AMBCrypto.

POL hits new lows amidst Polygon’s TVL surge: A chance to invest?

POL slips into its lowest ever price point after failing to find a bullish footing. Assessing whether this could be a good opportunity to buy in. POL (formerly MATIC) holders must be throwinThe post POL hits new lows amidst Polygon’s TVL surge: A chance to invest? appeared first on AMBCrypto.

Polygon: Can network growth help POL overcome selling pressure?

Polygon’s DeFi TVL has surged to a 7-month high of $1.16 billion. Despite the network growth, POL still showed bearish signals with a rounding top pattern on its four-hour chart.  POL (foThe post Polygon: Can network growth help POL overcome selling pressure? appeared first on AMBCrypto.

0% of POL investors profitable - Can bulls turn the tide soon?

A multi-year bullish pattern appeared on the token’s price chart.  Buying pressure increased slightly, hinting at a price rise.  After Polygon’s [POL] MATIC to POL upgrade, many expectThe post 0% of POL investors profitable - Can bulls turn the tide soon? appeared first on AMBCrypto.