Ethereum

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Most of the coins are facing correction today, according to <a href="https://u.today/bonk-price-analysis-for-january-11" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="85cfe068-8fd3-4bdd-a18d-5a739f744105" src="https://u.today/sites/default/files/inline-images/top19_1.png">Top coins by<a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow"> CoinMarketCap</a>
<h2 class="text-align-justify" id="eth-usd">ETH/USD</h2>
Ethereum (ETH) is the only rising coin from the top 10 list, going up by 0.73%. <img data-entity-type="file" data-entity-uuid="60997d7b-51e8-40f8-9049-2d0e76ed66dd" src="https://u.today/sites/default/files/inline-images/eth1_103.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the rate of ETH has made a false breakout of the local resistance of $2,681. If the daliy bar closes far from it, the leading altcoin may also follow the correction of other coins.&nbsp;
In this case, traders might see a test of the $2,600-$2,620 area. <img data-entity-type="file" data-entity-uuid="aad5cdbc-30fe-46c5-a04c-98ef3b17f583" src="https://u.today/sites/default/files/inline-images/eth2_109.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the bigger time frame, one should focus on yesterday's peak. If it happens near $2,690, the rise may continue to the $2,750-$2,800 range for the next few days. <img data-entity-type="file" data-entity-uuid="93a3675d-442d-4787-853b-c598596e69cb" src="https://u.today/sites/default/files/inline-images/eth3_99.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
From the midterm point of view, the price of ETH is ready to keep growing after a breakout of the $2,447 level. Until the rate is above that mark, there are no bearish signals.
Ethereum is trading at $2,672 at press time.

Ethereum (ETH) Price Analysis for January 12

Table of Contents

U_Today

Other articles published on Jan 12, 2024

Top 5 Altcoins to Stack in This Crypto Bull Run

XRP gains attention in Wall Street financial discussions

The dramatic tale of 2024’s financial market

Event People's Alliance Inscription Event

Ethereum Name Service Price Explodes: Why the Price is Rising and How High Can the ENS Price Go?

Dogecoin (DOGE) Price Bounces – Temporary Relief or Bullish Reversal?

Join our free newsletter for daily crypto updates!