Ethereum

2024

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   Jan 08, 2024 at 13:50 // Price 
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
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 <p><strong>The price of Ethereum (ETH) has ended its upward trend. Price <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p> 
 <h2 style="text-align: justify;" id="ethereum-price-long-term-analysis-fluctuation-range">Ethereum price long-term analysis: fluctuation range</h2> 
 <p style="text-align: justify;"> After the price drop on January 3. Ether fell below the moving average lines during the price dip on January 3, but failed to recover back above the 21-day SMA. Since January 4, the price of the cryptocurrency has been between the moving average lines.&nbsp; </p> 
 <p style="text-align: justify;"> The 21-day SMA or resistance at $2,300 is currently holding back the uptrend. If the moving average lines are broken, the largest altcoin will develop a trend. For example, a downtrend will resume if the bears break below the 50-day SMA and negative momentum is maintained. Ether's current market value stands at $2,229.50. The moving average lines represent the trading and containment boundaries for ETH/USD in the interim. </p> 
 <h2 style="text-align: justify;" id="analysis-of-the-ethereumindicators">Analysis of the Ethereum&nbsp;indicators</h2> 
 <p style="text-align: justify;"> The price bars on the 4-hour chart are below the moving average lines. The resistance at $2,230 or the 21-day SMA continues to limit the upward movement. The altcoin will continue to fluctuate for a few more days, as shown by the cryptocurrency's price bars on the daily chart, which are located between the moving average lines. </p> 
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3> 
 <p style="text-align: justify;"> <b>Key resistance levels – $2,200 and $2,400</b> </p> 
 <p style="text-align: justify;"> <b>Key support levels – $1,800 and $1,600</b> </p> 
 <p style="text-align: justify;"> <b><img width="1024" alt="ETHUSD_(Daily Chart) – Jan.08.jpg" src="https://cdn.thebittimes.com/images/2024/01/09/96d5e0b70e63198e2edd2cab0e64bcec.webp" height="551" title="ETHUSD_(Daily Chart) – Jan.08, 2024"><br> </b> </p> 
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-ethereum">What is the next direction for Ethereum?</h2> 
 <p style="text-align: justify;"> Ethereum is trapped between the moving average lines. The bears failed in their two attempts to break above the 50-day SMA. The extended tail of the candle indicates strong buying at the 50-day SMA. The 50-day SMA and the current support are currently being guarded by the bulls. The price action on either side of the moving average lines is limited by the doji candle. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="ETHUSD_(4-Hour Chart) – Jan. 08.jpg" src="https://cdn.thebittimes.com/images/2024/01/09/8a6a75ae7ab68731f7604d8d986f4bbf.webp" height="551" title="ETHUSD_(4-Hour Chart) – Jan. 08, 2024"><br> <br> Coinidol.com reported before that the largest cryptocurrency fell&nbsp; to a low of $2,097 on January 3, but investors bought the dips. Ether has now recovered and is currently at $2,249.50.&nbsp; </p> 
 <p style="text-align: justify;"> <i><span style="color: #959595;">Disclaimer. This <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do the research before investing in funds.</span></i> </p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ethereum-is-in-a-narrow-range-and-is-approaching-a-possible-crash-tbt75932.html">https://thebittimes.com/ethereum-is-in-a-narrow-range-and-is-approaching-a-possible-crash-tbt75932.html</a></p>

Ethereum Is In A Narrow Range And Is Approaching A Possible Crash

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