Ethereum (ETH) Price Analysis – January 9

  • The bulls were unable to break the $160 price level.
  • On the downside, if the bears break the $150 price level, the crypto will fall to the low of $135.

Ethereum, ETHUSD, CryptoCompare chartEthereum Chart By Trading View

ETHUSD Medium-term Trend: Bullish

  • Resistance Levels: $230, $240, $250
  • Support Levels: $150, $130, $110   

Yesterday, the price of Ethereum was in a bearish trend. The ETH price closed at a price of $152.58 yesterday. The crypto's price fell to the support of the 12-day EMA. Prior to this time, the crypto's price had been resisted at the $160 price level on three occasions. The bulls were unable to break the $160 price level.

If the bulls had broken the $160 price level, the crypto would have risen to the high of $220. However, the crypto fell to the low of $152.58 yesterday. On the downside, if the bears break  the $150 price level, the crypto will fall to the low of $135. Today, the price of Ethereum is making another bullish movement to test the resistance level.

Meanwhile, the stochastic indicator is out of the overbought region but below the 80% range which indicates that the price of Ethereum is in a bearish momentum and a sell signal.

ETHUSD Short-term Trend: Bearish                

Ethereum, ETHUSD, CryptoCompare chartEthereum Chart By Trading View    

On the 4-hour chart, the price of Ethereum is in a bearish trend zone. Today, the crypto's price reached the high of $162.76 but was repelled. The bears broke the 12-day EMA and the 26-day EMA to the low of $154.19. Nevertheless, the crypto's price is likely to fall because the price is in the bearish trend zone.

Meanwhile, the stochastic indicator is below the 60% range but the blue band is making a U-turn. This indicates that the price of Ethereum is in a bullish momentum but the bulls appears to have exhausted their bullish pressure.

 

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