Ethereum

2024

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   Jan 24, 2024 at 06:20 // 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) has fallen below the 21-day SMA but is still above the 50-day SMA. Price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p>
 <h2 id="long-term-analysis-of-the-ethereum-price-bearish">Long-term analysis of the Ethereum price: bearish</h2>
 <p style="text-align: justify;">In other words, Ether has moved between the moving average lines. The altcoin has fallen to a low of $2,237 at the time of writing. The cryptocurrency is expected to fall above the 50-day SMA.</p>
 <p style="text-align: justify;">If the price falls below the moving average lines, the downside momentum will extend to the support above $2,200. The slide will be halted if the altcoin falls and finds support above the 50-day SMA. This will cause the cryptocurrency to oscillate between the moving average lines.&nbsp;</p>
 <h2 style="text-align: justify;" id="analysis-of-the-ethereum-indicator">Analysis of the Ethereum indicator</h2>
 <p style="text-align: justify;">The largest altcoin has retreated between the moving average lines. This means that the cryptocurrency market is likely to experience a sideways movement. If the moving average lines are broken, the sideways trend will end. On the 4-hour chart, the price bars are below the downward moving average lines.</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 .22.jpg" src="https://cdn.thebittimes.com/images/2024/01/24/98d3c3f565e2cfe1368169bef31a93a1.webp" height="491" title="ETHUSD_(Daily Chart) – Jan. 22, 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 4-hour chart of Ethereum shows a negative swing. On January 12, the price of Ether rose and a candlestick body tested the 50% Fibonacci retracement level. This correction predicts that ETH will fall to the 2.0 level of the Fibonacci extension or $2,252.80. According to the price action, Ether has fallen to $2,377 as it approaches the target price.</p>
 <p style="text-align: justify;"><img width="1024" alt="ETHUSD_(4-hour Chart) – Jan.22.jpg" src="https://cdn.thebittimes.com/images/2024/01/24/5d2a4b3463b9a5f6780f2827e3f03ee2.webp" height="491" title="ETHUSD_(4-hour Chart) – Jan.22, 2024"><br></p>
 <p style="text-align: justify;">Previously Coinidol.com reported that Ethereum has been in a sideways movement between $2,400 and $2,600 over the last week.&nbsp;</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 their 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-continues-its-slide-and-sets-its-sights-on-the-2-200-mark-tbt77581.html">https://thebittimes.com/ethereum-continues-its-slide-and-sets-its-sights-on-the-2-200-mark-tbt77581.html</a></p>

Ethereum Continues Its Slide And Sets Its Sights On The $2,200 Mark

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TheBitTimes

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