Ethereum Price Analysis & Prediction (Jan 18th) – ETH Bulls Take Break After Pushing Consistently For Two Weeks, Can They Refuel Above $1.5k?

2023-1-19 09:18

Ethereum’s price increased by 33% over the past two weeks after breaking out of a long-term channel. The consistent price increase has pushed the cryptocurrency to a 2-month high.

Since the beginning of the year, Ethereum has been following a bullish sentiment and has tapped a 2-month high at $1.6k yesterday. The price dropped to a low of $1,520 today and recovered quickly to where it is changing hands at $1,550 at the moment.

The buying pressure looks calm today as the weekly trading rounds up in the next few hours. ETH is trying to cross over into the new week in a neutral mode before deciding the next direction to follow.

Ethereum can still tap more highs if it continues to show a sign of strength. The $1.5k level remains a key level for the asset to refuel the existing positive actions.

A close below this level could cause a heavy reduction in the coming week. We may see a retest of the channel breakout before it resumes the upward rally. The new ascending trend line now serves as dynamic support for a rebound.

If this trend line breaks down, a massive sell-off is likely to come into play. Such a scenario may result in a continuation of the long-term bearish. The recent recovery in the overall crypto market has put some bears in disbelief.

Ethereum Key Level To Watch Source: Tradingview

While Ethereum is in the middle of a consolidation, the support level to watch out for a rebound is $1.5k in case of a drop. The following level to keep in mind is the $1,403 and $1,350 supports. Right below this level lies $1,300.

Moving higher, it would first need to retake yesterday’s $1600 resistance before rising to $1,678, marked as November 2022 high. It can also revisit the $1,788 resistance level if the price keeps surging.

Key Resistance Levels: $1,600, $1,678, $1,788.

Key Support Levels: $1,500, $1,403, $1,350

Spot Price: $1,550 Trend: Bullish Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Image Source: nexusplexus/123RF / Image Effects by Colorcinch

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price ethereum high weeks 2-month two pushed

Источник: nulltx.com

price ethereum → Результатов: 126


Ethereum price prediction: ripe for a 37% jump to $2,500

Ethereum price has pulled back in the past few days as the recent rally took a breather. ETH dropped to a low of $1,851, which was 14% lower than the year-to-date high of $2,131. This means that the coin has moved to the correction zone, which happens when an asset drops by 10% from its […] The post Ethereum price prediction: ripe for a 37% jump to $2,500 appeared first on CoinJournal.

2023-4-24 15:15


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum ETF Dreams Dashed? Analyst Says SEC Approval ‘Slim To None’

For investors hoping for a simple way to gain exposure to Ethereum, the road seems paved with regulatory hurdles. The US Securities and Exchange Commission (SEC) has thrown a wrench into plans for spot Ethereum Exchange Traded Funds (ETFs), leaving the future of these investment vehicles shrouded in uncertainty.