Ethereum Bullish Breakout: How Far Will ETH Price Rally in July?

Ethereum price soared past $3,150 on Wednesday for the first time since January. Both technical and fundamental aspects favor bullish sentiment for the Ether price in July. Renewed demand for Ether by institutional investors amid record-high Open Interest spells more bullish momentum. The price of Ethereum has soared above $3,150 for the first time in 23 weeks, and the betting markets are now pricing in a 74% probability that it will hit $3,300 before the end of July . This strong bullish conviction comes as a wave of institutional money continues to flood into the asset. The large-cap altcoin surged 5.53% in the past 24 hours to trade at about $3,141 on Wednesday. According to market data analysis from Coinglass , Ether price has recorded an average gain of 7% in July since 2016, despite posting more bearish monthly returns of July in the past. Related: Ethereum (ETH) Price Prediction for July 17 Following the enchanting bullish breakout of Ether against Bitcoin and the U.S. dollar, Polymarket traders think there is a slim chance, 3% odds, for a capitulation to $2,200. Top Reasons Why Ethereum Price Will Soar in July The top reason for the… The post Ethereum Bullish Breakout: How Far Will ETH Price Rally in July? appeared first on Coin Edition .

Source: Coin Edition