empty
 
 
02.07.2026 06:04 AM
Trading Signals for Ethereum (ETH) on July 2-4, 2026: buy above $1,586 (21 SMA - 2/8 Murray)

This image is no longer relevant

ETHEREUM (ETH) is trading around $1,606 and is pulling back after reaching a high of $1,650 during Wednesday's US trading session. Technically, this pullback could be seen as an opportunity to re-enter long positions.

According to the H4 chart, we can see that Ethereum has been trading within an uptrend channel formed since June 26. If it consolidates above $1,586 in the coming hours, the outlook is likely to be positive, and we could expect it to reach the upper band of the uptrend channel around $1,670.

Conversely, if bearish pressure prevails, Etherum is expected to find strong support near the lower band of the uptrend channel, around $1,560.

The Eagle indicator is showing a positive signal, so this pullback could be considered a 38.2% Fibonacci retracement zone. If Ethereum reaches the 61.8% level around $1,580, it could be seen as a buying opportunity in the coming hours.

A decisive break above $1,680 could drive ETH/USD toward the 200 EMA, reaching around $1,735, and it could ultimately hit the strong resistance at $1,750.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
Dimitrios Zappas
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback