What to know:
- Ethereum price climbed over 3% as renewed buying pressure and bullish technical indicators boosted market sentiment.
- The analyst sees a potential July Wave 2 bounce, though the medium-to-long-term outlook remains cautious near key resistance.
- MACD turned bullish while ETH trades above the Bollinger mid-band, signaling strengthening upward momentum.
Ethereum price appreciated on Saturday due to increased buying pressure and better technical signals. The second-biggest cryptocurrency has rebounded from the recent declines, with investors awaiting the asset’s ability to clear out a critical resistance level this month.
At the time of writing, ETH is trading at $1,786.41, up 3.19% over the last 24 hours. Daily trading volume stands at $15.08 billion, while Ethereum’s total market capitalization is approximately $215.30 billion, reflecting renewed interest as the price continues its short-term recovery.
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Ethereum Price Eyes July Bounce at Major Resistance
A prominent crypto analyst, More Crypto Online, on July 4, 2026, noted that the Ethereum price is near its first major level of resistance. Based on the market structure analysis of the expert, the trend is expected to remain bearish for the medium to long term, but there may be a significant Wave 2 bounce in July.
In view of this perspective, there is a chance that the value of Ethereum will still rise in the short term despite the market being in an uptrend in the long run. It is a trend that is typical of any bounce-back period following any significant fall.
Despite the fact that More Crypto Online remains divided on the future direction of Ethereum, most people believe that any move above crucial levels of resistance will increase confidence and create buying pressure.
Ethereum Price Bullish Momentum Grows
Ethereum price is trading at $1,786 after recovering from its lowest levels. Technical indicators suggest that buying pressure has strengthened in the last few days.
The Bollinger Bands suggest that ETH has risen above the middle band and currently stands near $1,676.03. It is expected to continue moving upward towards the upper band, which is near $1,836.77. Meanwhile, the lower band is near $1,515.30. Trading above the middle band usually suggests buying power but may result in increased sell pressure at the upper band.
However, on the other hand, the MACD (Moving Average Convergence Divergence) indicator has gone into positive territory. The MACD Line has gone up to -32.27, crossing the Signal Line at -60.80, while the histogram has increased to 28.52. This indicates that there is an increase in upward momentum.
As long as Ethereum continues on its current trajectory, it will keep testing new highs in the coming days.
What’s Next for the Ethereum Price?
A few more sessions of trade will decide whether the cryptocurrency is able to prolong its upturn trend or come under new selling pressure close to the resistance at the upper Bollinger Band.
If the buyers manage to breach the resistance level of ETH along with significant volume, there is a possibility that the recovery will get a further boost. But, in case ETH fails to move upward, it might head into another phase of consolidation.
However, currently, better technical indicators and market activity signal that there is short-term strength in Ethereum, and for confirmation of a bigger trend reversal, it would need to move above resistance levels consistently.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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