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Ethereum Price Prediction: ETH/USD Still Consolidates Around $2600

Ethereum Price Prediction
Ethereum Price Prediction

Ethereum Price Prediction – January 30

The Ethereum price prediction is seen hovering above the 9-day moving average and it is currently changing hands at $2605.44 to keep the coin going up.

ETH/USD Market

Key Levels:

Resistance levels: $3000, $3200, $3400

Support levels: $2100, $1900, $1700

Ethereum Price Prediction
ETHUSD – Daily Chart

Looking at the daily chart, ETH/USD is currently trading above the $2500 level as the coin faces the path of development. Meanwhile, this can only be confirmed if the market price remains above the $2600 resistance level. However, the Ethereum price is hovering above the 9-day moving average with 0.07% gains after touching the daily low of $2555.35. However, the Ethereum price may likely drop below the 9-day MA if the bulls fail to push it to the upside.

Ethereum Price Prediction: Would Ethereum Price Go Higher?

According to the daily chart, the Ethereum price is seen trading above the 9-day moving average but yet to get to the 21-day moving average as the bulls need to keep the coin above the $2600 resistance level. This is to regain the proper bullish momentum, but the technical indicator Relative Strength Index (14) remains below 40-level.

At the time of writing, ETH/USD only needs to trade above few crucial resistance levels of $2700 and $2900 to stay comfortably at the top. Therefore, if the Ethereum (ETH) manages to trade well above these levels, it could reach the potential resistance levels at $3000, $3200, and $3400. On the contrary, if the bears step back into the market, ETH/USD may likely drop below the lower boundary of the channel, and further bearish movement could drag it to the critical supports at $2100, $1900, and $1700 respectively.

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When compares with Bitcoin, Ethereum (ETH) is currently trading within the 9-day and the 21-day moving averages but may likely move towards the lower boundary of the channel if the bears step into the market. However, the Ethereum price is changing hands at 6829 SAT as the technical indicator Relative Strength Index (14) moves below 40-level.

ETHBTC – Daily Chart

Moreover, the daily chart reveals that buyers are having the day as the potential resistance levels remain at 7400 SAT and above. On the other hand, a lower sustainable move below the channel may cancel the bullish pattern and attract new sellers to hit the support at 6200 SAT and below.

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