{"id":476448,"date":"2022-07-21T22:30:00","date_gmt":"2022-07-21T19:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ether-price-stalls-at-1630-after-gaining-50-in-under-a-week\/"},"modified":"2022-07-21T22:30:00","modified_gmt":"2022-07-21T19:30:00","slug":"ether-price-stalls-at-1630-after-gaining-50-in-under-a-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ether-price-stalls-at-1630-after-gaining-50-in-under-a-week\/","title":{"rendered":"# Ether price stalls at $1,630 after gaining 50% in under a week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35f00127631\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35f00127631\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-stalls-at-1630-after-gaining-50-in-under-a-week\/#%E2%80%9D_Ether_price_stalls_at_1630_after_gaining_50_in_under_a_week_%E2%80%9C\" >&#8221; Ether price stalls at $1,630 after gaining 50% in under a week   &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-stalls-at-1630-after-gaining-50-in-under-a-week\/#A_healthy_pullback\" >A healthy pullback<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-stalls-at-1630-after-gaining-50-in-under-a-week\/#Watch_out_for_a_sharp_drop_to_1200\" >Watch out for a sharp drop to $1,200<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-stalls-at-1630-after-gaining-50-in-under-a-week\/#Lower_highs_and_higher_lows\" >Lower highs and higher lows<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ether_price_stalls_at_1630_after_gaining_50_in_under_a_week_%E2%80%9C\"><\/span>&#8221; Ether price stalls at $1,630 after gaining 50% in under a week   &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Price action across the cryptocurrency market was largely subdued on July 21, as traders took a day to digest gains over the past week and book profits following the biggest relief rally since early June.<\/p>\n<p>Amid speculation about what drove the recent rally, the Ethereum\u00a0Merge has consistently ranked at the top of the list. The market rally shifted into high gear after a tentative date of Sept. 19 was set for the mainnet Merge. <\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that after hitting a high of $1,620 on July 20, Ether&#8217;s (ETH)\u00a0price retraced to a low of $1,463 in the early trading hours on July 21 and has since climbed back above support at $1,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/db78acfb-88bf-4797-9b80-50a170e1de98.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Now that the initial price surge brought on by the Merge announcement has subsided, here\u2019s what several analysts are expecting to unfold as Ether&#8217;s mainnet transition to proof-of-stake <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaches.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_healthy_pullback\"><\/span>A healthy pullback<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ether&#8217;s pullback on July 21 is a positive development according to market analyst Rekt Capital, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1549437066714513409\">posted<\/a> the following chart highlighting the importance of its weekly close above $1,300 and subsequent move higher. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/d30c207d-ffe2-47e8-bd62-a2a5569e39bb.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-week chart. Source: <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Rekt Captial said:<\/p>\n<blockquote><p>\u201cThough #ETH could just continue higher to reach the upper orange region, it would be healthier for ETH to dip. Such a retest of the lower orange area would only increase probability of continuation.\u201d<\/p><\/blockquote>\n<p>July 21&#8217;s pullback aligns with this outlook and suggests the possibility of a move up to $1,700 in the near future. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Watch_out_for_a_sharp_drop_to_1200\"><\/span>Watch out for a sharp drop to $1,200<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ether\u2019s modest retrace was also an anticipated development by crypto trader and pseudonymous Twitter user Team Lambo, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TehLammbox\/status\/1550105026571419648\">provided<\/a> the following chart showing the clear rejection at $1,630 and 10% retracement. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/96a0a007-3fce-4007-9a2c-4abb013dbbd4.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Team Lambo explained in a Twitter post:<\/p>\n<blockquote><p>\u201cNow the bigger correction will come below $1,440 and almost certainly will see a sharp drop towards $1,200 so keep on waiting for that move for #Ethereum.<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>What are the long-term goals for the Ethereum blockchain? Vitalik Buterin explains live at EthCC<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Lower_highs_and_higher_lows\"><\/span>Lower highs and higher lows<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A more nuanced analysis of the recent price action for Ether was offered by market analyst CryptoLinns, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoLinns\/status\/1550065892326723585\">posted<\/a> the following chart noting that the move on July 20 did not set a new high while the drop on July 21 did not establish a new low on the 4-hour chart.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/0e66dc0b-afb5-4652-8d06-3a6fff0bea03.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 4-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>CryptoLinns <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoLinns\/status\/1550065896642686976\">said<\/a>, <\/p>\n<blockquote><p>\u201cThe last candle showed a long lower shadow line, which proves demand appeared. But volume is not enough. Watch out whether the demand of this candle now is persistent.\u201d<\/p><\/blockquote>\n<p>According to CryptoLinns, the current support level is located at $1,450 while overhead resistance is found at $1,630. <\/p>\n<p>A final bit of insight into the critical levels to watch on the Ethereum chart was provided by crypto trader Altcoin Sherpa, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AltcoinSherpa\/status\/1549642998631350273\">posted<\/a> the following chart identifying lower levels of support at $1,012 and $1,281 and overhead resistance at $1,701, $2,145 and $2,465.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/23820af8-714c-4849-b539-e5e21f9d69fb.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>The overall cryptocurrency market cap now stands at $1.039 trillion and Ether\u2019s dominance rate is 18%.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ether-price-stalls-at-1-630-after-gaining-50-in-under-a-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ether price stalls at $1,630 after gaining 50% in under a week &#8220; Price action across the cryptocurrency market was largely subdued on July 21, as traders took a day to digest gains over the past week and book profits following the biggest relief rally since early June. Amid speculation about what drove the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":476449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvYzcwMjI4YzQtYjA1NC00OTkyLWI1ZWMtZjQwNTAyMDZjMjJjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,82402,74891,75326,74938,75150,73785],"class_list":["post-476448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-ether-price","tag-ethereum","tag-ethereum-2-0","tag-ethereum-price","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/476448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=476448"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/476448\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/476449"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=476448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=476448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=476448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}