Ethereum Price Analysis: Details from the WazirX Hack

How Will WazirX Hacker’s Actions Impact Ethereum Price Analysis?

The asset has stayed unchanged during the last day, according to the Ethereum price forecasts. This occurs as the hacker WazirX exchanges his loot for Ethereum.

• Due to Ethereum’s higher liquidity than other blockchains, the price projection is still constant even after the WazirX hacker combined all of the stolen cryptocurrency assets into Ethereum.
• Within the 4-hour timeframe, the price of ETH/USD is climbing above the 50-day and 200-day simple moving averages (SMA), indicating that the bullish uptrend is ongoing.

Ethereum Price Targets $4,100: Technical Analysis and RSI Indicators

ETH forms a bullish pennant inside a symmetrical triangle as well. Over the weekend and into the next week, it is anticipated that the price of ETH will trend within this market structure. Although bulls are showing some weakness according to technical indicators, the price prediction for Ethereum is still positive.

On July 15, the relative strength index (RSI) reached 60.68 before declining. It might find support from the RSI moving average, from which it is now close, to bouncing. The current RSI of 57.49 indicates that ETH’s bullish momentum is waning. Just above the zero line, the Chaikin money flow (CMF) indicator decreases purchasing pressure and supports the RSI.

• Ethereum’s price is expected to rebound during the weekend, most likely between $3,400 and $3,500.
• The price might rise by 18% to $4,100 if the symmetrical triangle breaks upside down.
• On the other hand, $3,300 can serve as support for the price of ETH.

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