Forecast of Ethereum (ETH) Value for July 23rd
In the world of cryptocurrency, Ethereum (ETH) continues to make headlines as it navigates through a mix of bullish trends and potential corrections.
Currently trading at $3,673, Ethereum's price is near the local support of $3,650 on the hourly chart. The cryptocurrency market, as reported by CoinMarketCap, is neither bearish nor bullish at the moment.
Despite the short-term fluctuations, the longer-term outlook for Ethereum remains somewhat uncertain. Over the past day, the rate of ETH has decreased by 0.58%. If the daily bar closes around $3,650 and a bounce back does not occur, a level breakout and a potential drop to $3,600 may follow, as suggested by technical analysis. On the other hand, if the candle closes near the bar's high, a potential reversal of the ongoing correction for ETH may be observed over the next few days.
However, the bullish sentiment for Ethereum is strongly supported by significant price rallies, strong institutional demand, and positive technical indicators. In July 2025, Ethereum surged over 49%, reaching a price around $3,715-$3,812, marking its strongest monthly performance this year and a nine-day winning streak. This rally has been driven mainly by substantial inflows from exchange-traded products (ETPs) and corporate buying, with institutions purchasing over 2.83 million ETH (around $5 billion) since mid-May 2025.
Technically, Ethereum is breaking through key resistance levels around $3,800, indicating strong buying interest rather than speculative hype. Analysts expect ETH to surpass the psychologically important $4,000 level soon, with some forecasts targeting $15,000 or higher by the end of 2025 based on ongoing bullish momentum, institutional adoption, and its core use cases in DeFi and smart contracts.
The focus for Ethereum from a midterm perspective is on the weekly bar closure in relation to the $3,824 level. If the weekly bar closes below this level, sellers may return, potentially leading to a drop in the price of ETH to the $3,500 range. On the other hand, if the weekly bar closes above $3,824, it could signal a continuation of the bullish trend.
Investors should remain vigilant to market fluctuations, as the future outlook remains contingent on macroeconomic factors, network developments, and broader crypto market conditions. While bullish catalysts like staking growth, network upgrades, and sustained inflows set a positive backdrop, risks such as inflation concerns or cautious central bank policies could limit gains or trigger volatility.
Recent analyses by CoinMarketCap and U.Today reflect an optimistic sentiment, with Ethereum poised for potential further upside driven by institutional demand and technical strength, though investors should remain vigilant to market fluctuations.
- Altcoins like Ethereum (ETH) are experiencing a combination of bullish trends and potential corrections, with its current price prediction being near $3,650 on the hourly chart.
- Bitcoin and other cryptocurrencies, as indicated by CoinMarketCap, are displaying neither a clear bearish nor bullish trend at the moment.
- Despite the short-term fluctuations, a long-term price prediction for Ethereum suggests a potential surge past the $4,000 level, with some analysts even forecasting a target of $15,000 or higher by the end of 2025.
%20Value%20for%20July%2023rd){kind=link}