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Ethereum (ETH) Price Analysis for January 2

Mon, 01/02/2023 - 15:12
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Denys Serhiichuk
Does Ethereum (ETH) have enough strength to rise faster than Bitcoin (BTC)?
Ethereum (ETH) Price Analysis for January 2
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In the first week of 2023, the cryptocurrency market is about to start in the green zone.

Top 10 coins by CoinMarketCap


The rate of Ethereum (ETH) is rising faster than Bitcoin's (BTC), going up by 1.66% over the last 24 hours.

ETH/USD chart by TradingView

On the local chart, the price of Ethereum (ETH) has started the day with a sharp rise, forming the support at $1,199. However, the rate found difficulties at the resistance at $1,219.

Bitcoin (BTC) Price Analysis for January 1

If the price does not decline to the middle of the channel, the upward move may continue tomorrow.

ETH/USD chart by TradingView

On the bigger time frame, the rate of Ethereum (ETH) has broken the nearest resistance level at $1,205.60. If buyers can hold the gained initiative and keep the price above the aforementioned mark, the rise may lead to a test of the $1,236 level.

ETH/BTC chart by TradingView

Ethereum (ETH) is also looking bullish on the daily chart. Currently, one should pay attention to 0.072676. If the candle fixes above that mark, the rise may continue to the next resistance at 0.07349.

Ethereum is trading at $1,215 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at