ETH/USD daily chart

ETH/USD daily chart

Gate Trade Ethereum Tuesday, July 7, 2020 1035 2

The next target is $253.556, which might act as a stiff resistance but if the bulls can drive the second-ranked cryptocurrency on CoinMarketCap above this resistance, the uptrend is likely to resume. The next target on the upside is $288.599.

 

However, if the bears again defend the $253.556 level, the ETH/USD pair might remain range-bound for a few more days. The 20-day EMA is gradually sloping up and the relative strength index has jumped into the positive zone, which suggests that bulls have a minor advantage in the short-term.