Red line - major resistance
Green lines- short-term resistance trend lines
Ethereum price is moving back above $1,100 at the beginning of July. Price has broken a short-term resistance trend line and has potential to reach the next important resistance of $1,300. Medium-term trend remains bearish. The RSI is turning upwards from oversold levels. The next couple of sessions justify for Ethereum price to bounce higher. If resistance at $1,300 is broken, then we should not be surprised if Ethereum price moves even higher towards the next resistance trend line around $1,560. Support at recent low of $997 is important for the near term.
