Ethereum

2024

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   Jan 02, 2024 at 12:30 // 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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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/9fc/900_900_1/bwgn5nhkvk8qesb1iudub9bq6llfxkt5.jpg" width="900" height="563" alt="" title="">
 <p><strong>The price of Ethereum (ETH) has rallied twice above the 21-day simple moving average (SMA) in anticipation of a strong trend. Price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.<br> </strong></p>
 <h2 style="text-align: justify;" id="long-term-analysis-of-the-ethereum-price-optimistic">Long-term analysis of the Ethereum price: optimistic</h2>
 <p style="text-align: justify;">Ether rose to a high of $2,447 on December 28 but was rejected. The altcoin declined and found support above the 21-day simple moving average. Today, Ether is on the rise again, reaching a high of $2,305.50. Buyers are driving Ether back to previous highs. On the positive side, the bulls have tested the $2,400 resistance twice but have been beaten back each time. Buyers intend to push the altcoin above the $2,447 mark before moving towards the psychological price level of $3,000. On the downside, Ether may drop if the 21-day SMA is breached and the bearish momentum continues.</p>
 <h2 style="text-align: justify;" id="analysis-of-the-ethereumindicators">Analysis of the Ethereum&nbsp;indicators</h2>
 <p style="text-align: justify;">The price of Ethereum is rising as it moves above the 21-day simple moving average. The 21-day SMA provides support for the cryptocurrency's upward movement. The price bars on the 4-hour chart are above the horizontal moving average lines. The largest altcoin is also experiencing an overbought scenario in the cryptocurrency, which may lead to its decline.</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.01.jpg" src="https://cdn.thebittimes.com/images/2024/01/02/24058e0f7af6094c370f0018f9e488e3.webp" height="491" title="ETHUSD_(Daily Chart) – Jan.01, 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;">Since the end of the December 7 rally, Ethereum has been trading in a narrow range. The altcoin's price has fluctuated between $2,140 and $2,440, with bulls making two unsuccessful attempts to break above the $2,447 resistance level. If the range thresholds are breached, Ether will develop a trend.<br></p>
 <p style="text-align: justify;">The largest altcoin has continued its positive performance and reclaimed the $2,300 resistance level, as Coinidol.com reported last week.</p>
 <p style="text-align: justify;"><img width="1024" alt="ETHUSD_4 - Hour hart- Jan .01.jpg" src="https://cdn.thebittimes.com/images/2024/01/02/49d056c302964a061466e94ca4e3ce12.webp" height="491" title="ETHUSD_4 - Hour hart- Jan .01, 2024"><br></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 the 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-upward-trend-and-sets-its-sights-on-the-2-400-mark-tbt75373.html">https://thebittimes.com/ethereum-continues-its-upward-trend-and-sets-its-sights-on-the-2-400-mark-tbt75373.html</a></p>

Ethereum Continues Its Upward Trend And Sets Its Sights On The $2,400 Mark

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TheBitTimes

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