Ethereum, and other major altcoins as well as BTC have taken their immediate support levels, indicating the bears are still very active at larger levels. The asset has fallen by around 6% with a rise in volume of 3%. Meanwhile, on-chain analytics firm CryptoQuant highlighted rising Ether (ETH) outflows from major exchanges, totaling $1.87 million in coins as of July 22. Crypto exchange results suggest that traders are bullish on the long-term, so they might move coins to stronger crypto wallets for security. The dominance of ETH is currently at 18.04% and the market capitalization is at $ 172 billion.
At the time of writing, ETH was trading at $1,432.
ETH after making the low of $881 started trading in a range from $1,000 to $1,275. The asset finally gave a breakout on the upside and the prices rallied up to $1,665. However, the bulls failed to break the stiff resistance of $ 1,700 (Lows of previous Double Bottom pattern) and the prices have dropped to $1,400. ETH has a strong support at its 20 Day Moving Average at $1,275. If it holds and sustains above the support then the bulls may resume the up move. To further rally, the asset needs to break and close above $1,700.
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $1,000 | $1,275 | ETH | $1,700 | $1,950 |
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