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Ethereum (ETH) Price Analysis for January 15

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Sun, 15/01/2023 - 20:30
Ethereum (ETH) Price Analysis for January 15
Cover image via www.tradingview.com

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The last day of the week is neutral for the cryptocurrency market, according to CoinMarketCap's ranking.

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Top 10 coins by CoinMarketCap

ETH/USD

The price of Ethereum (ETH) has fallen by 0.18% over the last 24 hours.

ETH/USD chart by TradingView

On the local time frame, Ethereum (ETH) is trading in a narrow range, accumulating power for the next move. A sharp rise or decline is unlikely as the price has passed most of its daily ATR.

ETH/USD chart by TradingView

On the daily chart, the rate is trading within yesterday's candle, which means that the coin has not decided which way to go yet. At the moment, one should pay attention to the $1,500 zone.

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If buyers can hold that mark, the growth may continue.

ETH/USD chart by TradingView

On the bigger time frame, the price has failed to get to the resistance level of $1,662. However, if the bar closes with no long wicks, growth to the area of $1,700 may happen by the end of the month.

Ethereum is trading at $1,531 at press time.

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