Ethereum

2024

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   Jan 12, 2024 at 14:33 // 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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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/731/900_900_1/5fbrk9f3alo0f6ncpjr8q3txz3gb1a1y.jpg" width="900" height="563" alt="" title="">
 <p><strong>The price of Ethereum (ETH) has surged as the altcoin has risen above the $2,400 resistance line. Price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="long-term-analysis-of-the-ethereum-price-bullish">Long-term analysis of the Ethereum price: bullish</h2>
 <p style="text-align: justify;">Buyers have broken above the resistance line for the first time and the positive momentum has continued since December 7. The rise reached a high of $2,685 but was halted at the $2,700 resistance zone. The largest altcoin is currently trading at $2,612 after a slight decline. The current rise suggests that Ether is poised for its uptrend as the cryptocurrency falls below its recent high. Ether's brief pullback above the $2,570 support level has come to an end.</p>
 <p style="text-align: justify;">Ether is rising and buyers are defending the existing support. If Ether breaks through the $2,700 resistance, it will take another upswing to the $3,000 psychological mark. The altcoin is currently oscillating below the $2,700 resistance level.</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 had been rising because the price bars were previously trapped between the moving average lines. The altcoin has risen to a new high after breaking through the 21-day SMA. The uptrend is indicated by the sloping moving average lines pointing north. The altcoin is also approaching the overbought zone.</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.12.jpg" src="https://cdn.thebittimes.com/images/2024/01/13/764c3e30ca606ab90950c09685ee47e4.webp" height="551" title="ETHUSD_(Daily Chart) – Jan.12, 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;">The current rise has stopped above the support level of $2,570 but below the resistance level of $2,700. There have been fewer price changes between $2,570 and $2,700. In anticipation of a positive trend, the largest altcoin is trading in this range. If the current levels are broken, Ether will re-enter the trend.<br></p>
 <p style="text-align: justify;">On January 8, Coinidol.com reported that Ether's market value was&nbsp;$2,229.50; the moving average lines represented the trading and containment boundaries for ETH/USD in the interim.&nbsp;</p>
 <p style="text-align: justify;"><img width="1024" alt="ETHUSD_(4-Hour Chart) – Jan. 12.jpg" src="https://cdn.thebittimes.com/images/2024/01/13/e8d8eea1ae6b97e5ce1685770b717d80.webp" height="551" title="ETHUSD_(4-Hour Chart) – Jan. 12, 2024"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" 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="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-price-pushes-ahead-and-reaches-a-high-of-2-700-tbt76440.html">https://thebittimes.com/ethereum-price-pushes-ahead-and-reaches-a-high-of-2-700-tbt76440.html</a></p>

Ethereum Price Pushes Ahead And Reaches A High Of $2,700

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TheBitTimes

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