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Ethereum (ETH) Price Analysis for January 21

Sat, 01/21/2023 - 13:40
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Denys Serhiichuk
Has Ethereum (ETH) reached overbought zone yet?
Ethereum (ETH) Price Analysis for January 21
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The weekend has started with continued growth of the cryptocurrency market as all the top 10 coins are in the green zone.

Top coins by CoinMarketCap


Ethereum (ETH) could not show the same growth as Bitcoin (BTC), going up by 6.31% over the last 24 hours.

ETH/USD chart by TradingView

On the hourly chart, the price is trading sideways between the support at $1,619 and the resistance at $1,676. At the moment, the price is located in the middle of the channel against the declining volume.

Binance Coin (BNB) Price Analysis for January 20

All in all, any sharp moves are unlikely until the end of the day as most of the daily ATR has been passed.

ETH/USD chart by TradingView

On the daily chart, the price has fixed above the support at $1,607, which means that bulls are not going to give up the initiative. If the rate remains above the $1,600 zone, Ethereum (ETH) might keep accumulating energy for a move to the $1,700 mark.

ETH/USD chart by TradingView

On the weekly time frame, the rate has made a false breakout of the resistance at $1,676. However, if the bar closes around it with no long wicks, the breakout may lead to a test of the $1,900 area.

Ethereum is trading at $1,656 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