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- Ethereum price nears import price cap and could be set to close the trading week with gains.<\/strong><\/li>\n
- ETH price closing Friday either above or below a crucial hurdle significant for near-term price action.<\/strong><\/li>\n
- With US futures pointing to green numbers, expect to see a rally and ETH price pop above the hurdle.<\/strong><\/li>\n<\/ul>\n
Ethereum (ETH) price is set to give a little bit of a blow to short-sellers as ETH price made a miraculous recovery on the back of a bounce from the $1,043 handle. Going into the weekend, it will be crucial to see where price action is closing on Friday. For now, the US equity futures are pointing to a green spur, with cryptocurrencies primed to surf that tailwind and go out the week with a positive bang.<\/p>\n
ETH price set to print a positive weekly result<\/h2>\n
Ethereum price looks ready to perform a crucial move that could be a big blow for short-sellers, as bulls are trembling <\/a>to pop and break the along waited barrier at $1,243.59. The moment itself could come out of a cliffhanger movie from Arnold Schwarzenegger or Sylvester Stallone, as the barrier bulls are facing has already triggered three times a bull trap with a drop and squeeze back to $1,014. A daily and weekly close above that level would be so crucial <\/a>for the weekend trading and setting the tone for next week, where some risk on could be on the docket.<\/p>\n
ETH price is thus primed to pop above $1,243.89 for a fourth time, in tandem with US equity futures <\/a>already in the green and showing signs of a rally towards the end of the trading week. That tailwind should help lift morale and see traders inflow into Ethereum. Should the pop stretch to the monthly pivot above $1,300, more upside potential is forecasted <\/a>for the weekend, with $1,400 as the price target at the 55-day Simple Moving Average as the overall price cap.<\/p>\n
![\"ETH\/USD](\"https:\/\/editorial.fxstreet.com\/miscelaneous\/ETHUSD_2022-07-15_11-17-39-637934795109811899.png\")
<\/a><\/p>\nETH\/USD Daily chart<\/small><\/p>\n
Risk to the downside comes with the exact fourth repetition of what has been unfolding <\/a>all of July and partial in June already. A false break, close at or below the $1,243.89 hurdle and a pullback that turns into a squeeze and sets bulls back roughly 15%. Even a break lower below $1,014.30 could see a slide towards $830, while giving up the $1,000 crucial psychological level.<\/p>\n
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- ETH price closing Friday either above or below a crucial hurdle significant for near-term price action.<\/strong><\/li>\n