Ethereum

2024

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   Jan 20, 2024 at 08:41 // 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) is trading above the moving average lines. The largest altcoin is trading below the resistance level of $2,600 in anticipation of a further rise.<br> </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;">Ethereum has been in a sideways movement between $2,400 and $2,600 over the past week. Today, the altcoin has fallen and found support above the $2,400 support level. Ether is moving towards the recent highs of $2,600 and $2,700.</p>
 <p style="text-align: justify;">If buyers overcome the resistance at $2,700, Ether could rise to the high of $3,000. It is currently trading above the $2,400 support level, also known as the 21-day SMA. The largest altcoin is at risk of a decline once the current support levels are breached. The altcoin is set to drop to a low of $2,200. Meanwhile, the ETH/USD exchange rate stands at $2,500.80.</p>
 <h2 style="text-align: justify;" id="analysis-of-the-ethereum-indicators">Analysis of the Ethereum&nbsp; indicators</h2>
 <p style="text-align: justify;">Ether's price bars are moving above the moving average lines, indicating that the price will continue to rise. The price bars on the 4-hour chart are below the moving average lines, which is due to the recent downtrend. The moving average lines are sloping north, indicating an upward trend.</p>
 <h2 style="text-align: justify;" id="technical-indicators">Technical indicators:</h2>
 <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.19.jpg" src="https://cdn.thebittimes.com/images/2024/01/20/1bf63225e3fbad28c6388555eb2685c6.webp" height="491" title="ETHUSD_(Daily Chart) – Jan.19, 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;">Ether's price bars are moving above the moving average lines, suggesting that the price will continue to rise. The price bars on the 4-hour chart are below the moving average lines, which is due to the recent decline. The moving average lines are sloping north, indicating a rise.</p>
 <p style="text-align: justify;"><img width="1024" alt="ETHUSD_(4-hour Chart) – Jan.19.jpg" src="https://cdn.thebittimes.com/images/2024/01/20/004cac1cb5a874ee20765b0d0094c4e3.webp" height="491" title="ETHUSD_(4-hour Chart) – Jan.19, 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-hovers-above-2-400-and-is-heading-for-its-highest-price-tbt77187.html">https://thebittimes.com/ethereum-hovers-above-2-400-and-is-heading-for-its-highest-price-tbt77187.html</a></p>

Ethereum Hovers Above $2,400 And Is Heading For Its Highest Price

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