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ETH Price Bounces Back After Weekend Sell-Off, Bulls Eyeing $1,700 Resistance

The price of ETH has seen gains at the start of the week, bouncing back from selling pressure over the weekend and trading at $1,630. Despite negative market pressure since June, ETH has sustained support above $1,530. If the support area from $1,600 to $1,630 holds, Ethereum may consolidate with an upper limit of $1,700 before the next breakout targeting highs above $2,000.

Traders should look for a buy signal likely to come from the momentum indicator, and experts believe that the approval of a futures-based ETH exchange-traded fund (ETF) in the US could lead to an ETH price rally.

Ethereum Ethereum $3,347.58
+8.65%
ETH ETF Rally
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