Ethereum

Greed

Bitcoin

Read

<ul>
 <li>Ethereum’s correction may signal an upcoming rally as it respects key moving averages.</li>
 <li>The current price correction is viewed as a healthy consolidation, setting the stage for a stronger rally driven by committed investors.</li>
 <li>CoinCodex predicts a 6.77% rise in Ethereum’s price to $2,739.65 by January 21, 2024.</li>
</ul>
Ethereum (ETH) is currently navigating a corrective phase characterized by a recent sharp downturn that has become apparent on intraday timeframes. However, astute observers point to the potential for a bullish surge in the near future.
<a href="https://www.tradingview.com/symbols/ETHUSD/" rel="noopener noreferrer nofollow">Ethereum</a> seems to be adhering to key technical indicators, a pattern often associated with upcoming market reversals. A closer examination of the charts reveals Ethereum’s price action respecting crucial moving averages. This behavior, commonly observed during correction phases, is indicative of a potential rebound.&nbsp;
Moving averages, acting as dynamic support zones, may play a pivotal role in steering Ethereum toward an upward trajectory. The current correction is noteworthy, especially considering the robust rally that Ethereum enjoyed in the preceding weeks.&nbsp;
Corrections, being a natural and healthy aspect of any asset’s price trajectory, allow for consolidation before the next upward movement. This phase may serve the purpose of shaking out weak hands, setting the stage for a more robust rally fueled by a committed investor base.
CoinCodex’s <a href="https://coincodex.com/crypto/ethereum/price-prediction/" rel="noopener noreferrer nofollow">Ethereum price prediction</a> further fuels optimism, forecasting a 6.77% rise, with Ethereum reaching $2,739.65 by January 21, 2024. The current sentiment in the market remains bullish, supported by a Fear &amp; Greed Index of 64, indicating a prevailing sense of greed among investors. Ethereum’s recent performance underscores positive market conditions, with 47% of the last 30 days recorded as green days and a modest 5.09% price volatility.
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/xrp-community-brace-for-the-2-range-urges-crypto-analyst/" rel="noopener noreferrer nofollow">XRP Community: Brace for the $2 Range, Urges Crypto Analyst</a></li>
 <li><a href="https://cryptonewsland.com/ethereums-bullish-momentum-prevails-despite-potential-correction/" rel="noopener noreferrer nofollow">Ethereum’s Bullish Momentum Prevails Despite Potential Correction</a></li>
 <li><a href="https://cryptonewsland.com/dogecoins-rollercoaster-ride-signs-of-correction-ahead/" rel="noopener noreferrer nofollow">Dogecoin’s Rollercoaster Ride: Signs of Correction Ahead</a></li>
 <li><a href="https://cryptonewsland.com/bitcoin-nears-potential-major-correction/" rel="noopener noreferrer nofollow">Bitcoin Nears Potential Major Correction</a></li>
 <li><a href="https://cryptonewsland.com/solanas-resilience-potential-surge-to-30-amidst-recent-corrections/" rel="noopener noreferrer nofollow">Solana’s Resilience: Potential Surge to $30 Amidst Recent Corrections</a></li>
</ul>
The post <a href="https://cryptonewsland.com/ethereum-braces-for-bullish-surge-following-market-correction/" rel="noopener noreferrer nofollow">Ethereum Braces for Bullish Surge Following Market Correction</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

Ethereum Braces for Bullish Surge Following Market Correction

Crypto News Land

Other articles published on Jan 16, 2024

Binance and Gulf Energy launch crypto exchange services in Thailand

Grayscale Updates Portfolio: Drops MATIC, Adds XRP; AI Altcoin Presale Close to Hitting $3 Million

Crypto Investors Beware: SMS Scams Targeting Binance Users

United Nations report cites popularity of USDT for fraud in Southeast Asia

Shiba Inu is firm as investors exploring new meme coin and gaming project

SEC agrees to postpone Terra trial for Do Kwon's extradition

Join our free newsletter for daily crypto updates!