Advertisement
AD

Main navigation

Ethereum (ETH) Price Analysis: Expecting a Test of $1,150 Shortly

Advertisement
Thu, 21/01/2021 - 14:38
Ethereum (ETH) Price Analysis: Expecting a Test of $1,150 Shortly
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The long-term correction might have started on the cryptocurrency market as most of the coins are in the red area. Mainly, Polkadot (DOT) has shown a 7.35% decrease over the last day.

Advertisement
Article image
Top 10 coins by CoinMarketCap

The drop of the coins has affected the total market capitalization, which has dropped below $1 trillion and is now $943 billion.

Article image
Cryptocurrency market capitalization

The relevant data for Ethereum is looking the following way:

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $143,110,153,054

  • Price: $1,248.45

  • Volume (24h): $46,185,489,059

  • Change (24h): -3.14%

The data is relevant at press time.

ETH/USD: Can bulls hold the $1,100 level?

Even though Ethereum (ETH) is not as bearish as Bitcoin (BTC), the price change of the chief altcoin has accounted for -2.70 over the past 24 hours.

Article image
ETH/USD chart by TradingView

On the hourly chart, Ethereum (ETH) might show a short-term bounceback before a further drop. Such a move is supported by the high buying trading volume and relatively high liquidity. In this case, the rise may last until the closest resistance at $1,320.

Article image
ETH/USD chart by TradingView

On the 4H time frame, the situation is bearish as bulls have failed to fix above $1,250. Thus, Ethereum (ETH) is located below the MA 50, which confirms sellers' power.

card

In this regard, there are chances of seeing the leading altcoin at $1,150 soon.

Article image
ETH/USD chart by TradingView

On the bigger chart, the key support is located around the $1,130 mark. Thus, a huge amount of liquidity is also focused there that considers a short-term bounceoff from that area.

Ethereum is trading at $1,223 at press time.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD