Ethereum

Cardano

Resistance

Shiba Inu

Avalanche

<p>Ethereum appears to have been building upside momentum this past week based on improving technical factors and on-chain activity. However, the native ETH asset now approaches crucial resistance levels that could determine trend sustainability, according to expert analysis.</p> 
<h2 class="wp-block-heading" id="strong-fundamentals-strengthening-strong"><strong>Fundamentals Strengthening</strong></h2> 
<p>Industry data provider <a href="https://twitter.com/santimentfeed/status/1752364062716068228" target="_blank" rel="noreferrer noopener nofollow">Santiment</a> notes positive signals as Ethereum climbs back above the $2,300 threshold:</p> 
<p><em>“Ethereum has returned to a $2,345 value for the first time since its fall began on January 22nd. The network is encouragingly rising in active addresses and network growth.”</em></p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="667" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-1024x667.png" alt="" class="wp-image-430052" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-1024x667.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-300x195.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-767x500.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-1536x1001.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-2048x1334.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-230x150.png 230w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-100x65.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-336x220.png 336w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-537x350.png 537w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880-788x513.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-880.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>This aligns with the analysis from trader <a href="https://twitter.com/el_crypto_prof/status/1752386298600374298" target="_blank" rel="noreferrer noopener nofollow">Moustache</a>:</p> 
<p><em>“Isn’t it remarkable how similar the [current ETH] structures are? Imagine what will happen with our altcoins.”</em></p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="524" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-1024x524.png" alt="" class="wp-image-430044" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-1024x524.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-300x154.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-768x393.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-1536x786.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-2048x1048.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-293x150.png 293w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-100x51.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-684x350.png 684w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879-788x403.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-879.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>The technical posture mirrors previous constructive accumulation periods that preceded sustained bull runs.</p>  
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>The key? Getting in early, especially during the IDO phase. <strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank">Get in on NuggetRush</a></strong> now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the<strong><a href="https://captainaltcoin.com/go/ll_inside/" target="_blank"> current ICO prices</a></strong>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div> 
<h2 class="wp-block-heading" id="strong-resistance-looms-strong"><strong>Resistance Looms</strong></h2> 
<p>However, fellow analyst <a href="https://twitter.com/CRYPTOMOJO_TA/status/1752592469370503348" target="_blank" rel="noreferrer noopener nofollow">CryptoMojo </a>points out a crucial technical zone around $2,400 that bulls must conquer to validate upside conviction:</p> 
<p><em>“Ethereum is facing the 2370$ to 2400$ range and the lower trendline of this channel is a strong resistance…In case of bullish momentum. But in case the bear pressure in the market remains the same then it’s likely to see a reject in Ethereum towards the lower support level.”</em></p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="474" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-1024x474.png" alt="" class="wp-image-430060" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-1024x474.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-300x139.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-766x355.png 766w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-1536x712.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-2048x949.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-324x150.png 324w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-100x46.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-756x350.png 756w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881-788x365.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-881.png 680w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p>So in essence, while optimism returns given improving adoption metrics and historical chart patterns, Ethereum must still overcome pivotal near-term barriers.</p> 
<p>Sustaining above $2,400 resistance would add credence to 2024, continuing the elongated cycles that propel outsized ETH upside. But failure to breakout could lead to retests of underlying support levels near $2,100. ETH’s response to resistance will prove telling over coming weeks.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/cardano-surges-past-important-resistance-analyst-predicts-ada-could-reach-0-85-if-this-happens/" target="_blank" rel="noreferrer noopener">Cardano Surges Past Important Resistance, Analyst Predicts ADA Could Reach $0.85 If This Happens</a></li> 
 <li><a href="https://captainaltcoin.com/this-shiba-inu-indicator-flashes-buy-signal-pay-attention-shib-holders/" target="_blank" rel="noreferrer noopener">This Shiba Inu Indicator Flashes “Buy” Signal – Pay Attention SHIB Holders</a></li> 
 <li><a href="https://captainaltcoin.com/avalanche-avax-resilience-at-36-33-amid-ethereum-eth-competition-dogecoin-doge-poised-for-rally-analyst-forecasts-early-bitcoin-btc-investor-predicts-kelexo-klxo/" target="_blank" rel="noreferrer noopener">Avalanche (AVAX) Resilience at $36.33 Amid Ethereum (ETH) Competition; Dogecoin (DOGE) Poised for Rally, Analyst Forecasts; Early Bitcoin (BTC) Investor Predicts Kelexo (KLXO)</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/Copy-of-P2P-Review-17-qi3pqhl3pi3mlojv8nq0upz5rcb68rblc7kuvhcaou.png" width="500" alt="Check NuggetRush ($NUGX)" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-ll_bottom-target-_blank-rel-nofollow-sponsored-span-check-nuggetrush-nugx-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> <span>Check NuggetRush ($NUGX)</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     Sponsored: Invest Responsibly, Do Your Own Research.
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/ll_bottom/" target="_blank" rel="nofollow sponsored"> Buy NUGX Today </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Being in its <strong>ICO stage</strong>, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>A unique <strong>play-to-earn</strong> gaming platform in the memecoin market
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>The platform combines artisanal and <strong>gold mining</strong> with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Fosters a strong <strong>community </strong>by encouraging physical meetups among members
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i><strong>NFT</strong> Integration with Prominent Characters
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/ethereum-eth-aims-for-sustained-breakout-amid-utility-surge-but-faces-critical-resistance/">Ethereum (ETH) Aims for Sustained Breakout Amid Utility Surge but Faces Critical Resistance</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Ethereum (ETH) Aims for Sustained Breakout Amid Utility Surge but Faces Critical Resistance

Table of Contents

CaptainAltcoin

Other articles published on Jan 31, 2024

Insightful Analysis: Key Altcoins to Monitor in February

Crypto Panic: Musk’s $56 Billion Loss Sparks Fears of Massive Crypto Sell-Off

Visa Accelerates Crypto Adoption: MetaMask Users Gain Direct Fiat Access through Visa Card Integr...

New Crypto Rules in China Aim to Control Money Laundering

Chainlink (LINK) Price Surges 6.5% Eyeing A Potential Rally to $25-$30

Trump NFT Sales Rise with Bitcoin Ordinals Partnership

Join our free newsletter for daily crypto updates!