Pi Network Flashes Bullish Reversal Signals
07 Aug 2025
📉 Bitcoin Price Forecast: Consolidation Persists
07 Aug 2025
07 Aug 2025
🔮 Ethereum Price Forecast: ETH Could Be Forming Another Bullish Pennant
Ethereum saw $61.67 million in futures liquidations over the past 24 hours, according to Coinglass. This includes $21.20M in long positions and $40.47M in shorts, indicating increased volatility and uncertainty in the short term.
Since July 21, ETH has been consolidating between $3,400 and $3,800 following a strong rally earlier in the month. This consolidation phase could be the early formation of a bullish pennant, especially as ETH continues to trade above the $3,220 support, which aligns closely with the 50-day Exponential Moving Average (EMA).
📈 Technical Outlook (ETH/USDT Daily Chart):
ETH may be on track to retest the descending trendline resistance near $3,900.
A break and close above $4,100 — the zone of strong selling pressure — would confirm a bullish continuation pattern.
However, a daily close below $2,850 would invalidate this bullish setup.
📊 Momentum Indicators:
The Relative Strength Index (RSI) and Stochastic Oscillator (Stoch) are both hovering around neutral territory, reflecting market indecision and a potential pause before the next big move.
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