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Ethereum Price Prediction: ETH/USD Approaches $3000 Support

Ethereum Price Prediction
Ethereum Price Prediction

Ethereum Price Prediction – January 18

The Ethereum price prediction reveals that ETH is approaching a crucial support level which could take the second digital asset to the downside.

ETH/USD Market

Key Levels:

Resistance levels: $3600, $3700, $3900

Support levels: $2800, $2700, $2600

Ethereum Price Prediction
ETHUSD – Daily Chart

As the daily reveals, ETH/USD is currently trading down by 1.91% at its current price of $3149, which marks a notable decline from its daily highs of $3246.20 that was set today when the coin faces the  positive side. Meanwhile, in the past, ETH/USD has been able to find some support in the lower $3083 level, as this could be the second time of visiting.

Ethereum Price Prediction: Bears Erases the Bullish Movement for BTC

After touching the daily high of $3246 during the European session today, the Ethereum price now continues to face the downside as the coin slides below the 9-day moving average. Therefore, many traders were expecting the coin to resume uptrends but the 9-day moving average has not been able to cross above the 21-day moving average. Now, the Ethereum price is currently hovering around the 9-day MA but it is yet to break above this barrier.

Moreover, any further bearish drop below the lower boundary of the channel may roll the market down to the support levels of $2800, $2700, and $2600 while a possible bullish surge may drive the market above the 21-day MA to hit the potential resistance levels at $3600, $3700, and $3800. Meanwhile, the Relative Strength Index (14) is below 40-level and staying there may cause the coin to create a new low.

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Against Bitcoin, the Ethereum price is currently facing the downside as the bears continue to take over the market. As it is, ETH/BTC is currently trading at 7452 SAT and the bulls couldn’t push the price above the 9-day and 21-day moving averages. However, if the market crosses below the lower boundary of the channel, the supports may be located at 7000 SAT and below.

ETHBTC – Daily Chart

However, on the upside, any bullish movement in the market may likely push the coin the moving averages, and the resistance level of 8200 SAT and above may come to play. Similarly, the Relative Strength Index (14) is likely to cross below 40-level, suggesting that the market may resume back into the negative side.

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