- Ethereum prices are approaching the import price cap and can be set to make a profit and close the trading week.
- The closing price of ETH prices on Friday is either above or below a significant hurdle that is important for short-term price behavior.
- US futures are showing green numbers and expect the rise and ETH prices to exceed the hurdles.
Ethereum (ETH) prices are set to hit shortsellers a bit as ETH prices miraculously recover against the backdrop of a $ 1,043 bounce from the handle. As we enter the weekend, it’s important to know where the Friday price action ends. So far, US stock futures are pointing to green spurious, and cryptocurrencies are preparing to surf the tailwind and leave the week with a positive bang.
ETH price set to print positive weekly results
Ethereum prices appear ready to carry out important moves that could be a big blow to shortsellers. The moment can come from Arnold Schwarzenegger and Sylvester Stallone’s Cliffhanger films. This is because the barriers facing the bull have already triggered the bull’s trap three times, returning to $ 1,014. Daily and weekly closing prices above that level are very important for setting weekend trading and next week’s tone.
Therefore, ETH prices are set to exceed $ 1,243.89 for the fourth time, in parallel with US equity futures, which are already in the green and are showing signs of rising towards the end of the trading week. That tailwind should help boost morale and watch traders flow into Ethereum. If pop grows above $ 1,300 in the monthly pivot, it is expected to rise further over the weekend, with an overall price cap of $ 1,400 being used as a 55-day moving average price target.
ETH / USD Daily Chart
The downside risk comes with an exact fourth iteration of all of July and already partially deployed in June. Wrong break, close below $ 1,243.89 hurdle, pullback turns into squeeze, pulling back about 15% bull. Even below $ 1,014.30, it is possible to slide towards $ 830, abandoning the significant psychological level of $ 1,000.