The post Ethereum (ETH) Price Prediction for July 31 appeared on BitcoinEthereumNews.com.
After a parabolic breakout that sent Ethereum price from $2,800 to nearly $3,850 in just two weeks, the rally is showing early signs of exhaustion. Ethereum price today is consolidating near $3,758 after multiple failed intraday pushes above $3,800. With volatility compressing and volume fading, traders are watching for a decision from bulls at the upper trend channel. What’s Happening With Ethereum’s Price? ETH price forecast (Source: TradingView) The daily structure shows ETH facing friction just under the upper Bollinger Band at $4,151, which historically aligns with local peaks. Candlesticks are printing smaller bodies and shadows near $3,835 resistance, confirming supply pressure. Bollinger Bands remain wide, reflecting high historical volatility. However, the price is beginning to stall near the top of the channel. All exponential moving averages (20/50/100/200) are currently stacked bullishly below, with EMA20 and EMA50 near $3,508 and $3,090 respectively. Any dip to this zone could attract aggressive buyers. ETH price forecast (Source: TradingView) Trendlines from the second chart show a breakout above the $2,800 range base, with Ethereum now retesting the upper boundary of a rising parallel structure. The key support zone for bulls lies near $3,516, while the breakout origin rests around $3,090. A clean loss of these areas may invalidate the current impulse leg. Why Ethereum Price Going Down Today? ETH price forecast (Source: TradingView) Despite strong macro bullish structure, short-term selling is emerging. On the 30-minute chart, Ethereum price action has broken into a declining channel, now oscillating between $3,820 resistance and $3,720 support. The RSI on this timeframe has dipped to 34.3, suggesting intraday weakness and a bearish bias unless reclaimed above 50. VWAP (Volume Weighted Average Price) is at $3,798, with ETH trading below it. ETH price forecast (Source: TradingView) The Supertrend level at $3,709 is key. A breakdown below this could…