Ethereum

Convergence

Spot

<img width="1200" height="630" src="https://coingape.com/wp-content/uploads/2024/01/ETH-3-e1705933222383.png" class="attachment-full size-full wp-post-image" alt="Ethereum price prediction" decoding="async" style="float:right; margin:0 0 10px 10px;">
Ethereum price prediction indicates a bullish trend in the cryptocurrency market. Currently priced at $2,281, Ethereum has experienced a slight dip of 0.41% in the past day. Despite this minor decrease, the currency has shown remarkable resilience, maintaining a value above $2,200 in recent months. This pattern demonstrates a strong bullish inclination among investors. 
<a href="https://coingape.com/price/ethereum/">Ethereum price</a> has witnessed a significant rise of over 46% in the past year, an indicator of increasing investor interest. The last 24 hours have been particularly optimistic for Ethereum, with its trading volume soaring to $9.29 billion. This surge points to a heightened bullish sentiment, suggesting potential for further growth in its value. 
<h2 id="strong-ethereum-price-prediction-eth-resilient-amidst-market-volatility-strong">Ethereum Price Prediction: ETH Resilient Amidst Market Volatility</h2> 
Over the previous week, Ethereum’s price fluctuated between $2,300 and $2,400. Despite this 6% weekly decline, the current market momentum leans towards optimism. Ethereum continues to hold its position as the second-largest cryptocurrency by market capitalization, now valued at $285 billion. This stability in the market underscores Ethereum’s growing prominence in the cryptocurrency sphere. 
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 Ethereum price prediction
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Ethereum price dynamics have recently been the focus of Crypto Busy, renowned crypto educators, and market analysts. They shared insights on Twitter, noting Ethereum’s market behavior post-speculation around an Ethereum-based Exchange Traded Fund (ETF). After the initial surge attributed to the ETF buzz, Ethereum is now experiencing a consolidation phase. This period is characterized by the market stabilizing after the notable increase in Ethereum’s value. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/EthereumNameService?src=hash&amp;ref_src=twsrc%5Etfw">#EthereumNameService</a> <a href="https://twitter.com/search?q=%24ENS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ENS</a> chart update: <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Currently consolidating after getting a huge pump from the <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> ETF speculation. 
 We can see a double resistance as it approach the diagonal and horizontal trendline. 
 Watch out! <a href="https://t.co/5TD9IDUvEB">pic.twitter.com/5TD9IDUvEB</a> 
 — CryptoBusy (@CryptoBusy) <a href="https://twitter.com/CryptoBusy/status/1749324404839104609?ref_src=twsrc%5Etfw">January 22, 2024</a>
</blockquote> 
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Crypto Busy’s analysis highlights Ethereum’s critical juncture, highlighting a double resistance scenario. This resistance is encountered as Ethereum’s price trajectory intersects with a diagonal and a horizontal trendline. In the wake of the ETF speculation, Ethereum’s value soared, reaching above $2,600. This peak signifies a substantial milestone and signals the potential for additional market gains.&nbsp; 
If <a href="https://coingape.com/markets/ethereum-price-dive-below-2400/">Ethereum</a> successfully breaks through the critical $3,000 resistance level, it could be on the verge of a significant price increase. The next major barrier it faces is at around $3,500. Surpassing this could lead to a bullish trend, pushing Ethereum’s value towards the $4,000 mark. Should this upward momentum continue beyond $4,000, Ethereum might see its value rise as high as the $4,800 resistance level. 
<h2 id="strong-daily-technical-indicators-will-eth-continue-to-soar-strong">Daily Technical Indicators: Will ETH Continue to Soar?</h2> 
Conversely, a failure to overcome the $3,000 threshold could result in a downturn for Ethereum. The first level of support in such a scenario is nearly $2,000. A further decline, especially a close below the $1,900 mark, could intensify the drop, leading to a more pronounced decrease in Ethereum’s value. This makes the $3,000 and $1,900 levels crucial for determining Ethereum’s short-term market trajectory. 
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 <img decoding="async" class="size-full wp-image-175952" src="https://coingape.com/wp-content/uploads/2024/01/ETHUSD_2024-01-22_17-11-56.png" alt="Ethereum price prediction" width="1149" height="652" srcset="https://coingape.com/wp-content/uploads/2024/01/ETHUSD_2024-01-22_17-11-56.png 1149w, https://coingape.com/wp-content/uploads/2024/01/ETHUSD_2024-01-22_17-11-56-300x170.png 300w, https://coingape.com/wp-content/uploads/2024/01/ETHUSD_2024-01-22_17-11-56-768x436.png 768w, https://coingape.com/wp-content/uploads/2024/01/ETHUSD_2024-01-22_17-11-56-150x85.png 150w" sizes="(max-width: 1149px) 100vw, 1149px">
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 Ethereum price Chart: <a rel="nofollow" href="https://www.tradingview.com/x/4tt13m8J/">Tradingview</a>
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The Moving Average Convergence Divergence (MACD) indicator showcases a bullish trend on the daily chart. This is evident as the MACD line currently hovers above its signal line. Contrasting this, the Relative Strength Index (RSI), also on a daily chart basis, signals a bearish market environment. Its readings linger below the 50 mark. The Chaikin Money Flow (CMF) is also positive at $0.11, indicating a bullish pressure in the near term. 
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The post <a href="https://coingape.com/markets/ethereum-price-prediction-as-spot-etf-speculation-sparks-when-will-eth-hit-4800/">Ethereum Price Prediction As Spot ETF Speculation Sparks, When Will ETH Hit $4,800?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Ethereum Price Prediction As Spot ETF Speculation Sparks, When Will ETH Hit $4,800?

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