{"id":617963,"date":"2025-01-14T10:25:27","date_gmt":"2025-01-14T10:25:27","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=617963"},"modified":"2025-01-14T10:25:27","modified_gmt":"2025-01-14T10:25:27","slug":"ethereum-price-prediction-eth-jumps-2-7-after-dropping-below-3k-as-this-new-solana-layer-2-token-races-past-10-million-in-presale","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ethereum-price-prediction-eth-jumps-2-7-after-dropping-below-3k-as-this-new-solana-layer-2-token-races-past-10-million-in-presale","title":{"rendered":"Ethereum Price Prediction: ETH Jumps 2.7% After Dropping Below $3K As This New Solana Layer-2 Token Races Past $10 Million In Presale"},"content":{"rendered":"

The Ethereum price surged 2.7% in the last 24 hours to trade at $3,240 as of 04:34 a.m. EST on trading volume that skyrocketed 170% to $40.5 billion.<\/span><\/p>\n

On January 13, Ethereum briefly dipped below the $3,000 mark, causing concern among investors. However, the cryptocurrency has since rebounded, regaining its position above this critical level.<\/span><\/p>\n

Ethereum Price Aims For A Bullish Trend Reversal<\/h2>\n

The <\/span>ETH price<\/span><\/a> has been trading within a downtrend after failing to hold above key support levels near $3,300, as seen in the purple zone.<\/span><\/p>\n

This breakdown was preceded by a “lower high” formation, where each peak in price was lower than the previous one—indicative of waning bullish momentum. The breach of horizontal support around $3,200, pushed the price to a recent low at $2,900, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

A recent bounce from below $3,000 suggests some buying interest at this psychological level, although the overall trend remains weak as the price consolidates near its previous support, now acting as resistance.<\/span><\/p>\n

As a result of the recent downtrend, the price of ETH has fallen below both the 50-day and 200-day Simple Moving Averages (SMAs), which now act as long-term resistance levels at $3,336 and $3,504, respectively.<\/span><\/p>\n

The Relative Strength Index (RSI) is currently at 51, slightly above the 50-midline level. This suggests ETH has room for further upside movement but may attempt consolidation or a weak bounce in the short term.<\/span><\/p>\n

\"Ethereum
ETH\/USD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

ETH Price Prediction<\/h2>\n

The recent breakdown and lack of strong bullish momentum suggest that the Ethereum price may struggle to reclaim $3,300 in the short term. If the price fails to break above this level, it could retest $3,000 or even fall lower toward the next support at $2,800.<\/span><\/p>\n

Conversely, with the RSI now climbing up above the 50-midline level and ETH rising above the support level around $3,200, the price of Ethereum may continue to recover, with the $3,504 level, within the 200-day SMA acting as the next target.<\/span><\/p>\n

Meanwhile, investors are also buying a new Solana meme coin called <\/span>Solaxy (SOLX)<\/span><\/a>, which popular YouTube channel 99Bitcoins, with over 721K subscribers, says has the potential to soar 100X post-launch.<\/span><\/p>\n