Source: Trading View
Additionally, the amount of ETH staked has risen from 63 billion in July 1, to a present 77 billion, indicating positive sentiment in the network.
Key price support and resistance zones
ETH is up 0.85% in the past 24h, wiping out over $100 million in short liquidations and bringing its current price to $1,939.
To maintain the Golden Cross, bulls need to defend the $1,850 – $1,900 demand zone. Further reclamation of prices above the 200-day MA ($2,134) is necessary to confirm a true macro trend reversal. This would also open the way to the $2,300 resistance zone.
Key events that could impact the near-term price of Ethereum include upcoming Fed rates announcement. Others are the tentative Senate floor vote on the CLARITY Act on August 3 and the Middle East conflict.
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