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Ethereum (ETH) Price Analysis for January 28

Sat, 01/28/2023 - 14:12
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Denys Serhiichuk
Can Ethereum (ETH) withstand possible correction?
Ethereum (ETH) Price Analysis for January 28
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The weekend has started neutral as some coins are rising while the rates of others are falling.

Top 10 coins by CoinMarketCap


Ethereum (ETH) remains in the green zone, going up by 0.37% over the last 24 hours.

ETH/USD chart by TradingView

Despite the rise, the price has broken the local support level of $1,578. If buyers cannot return it to the channel, one can expect a further drop to the $1,550 zone shortly.

ETH/USD chart by TradingView

On the daily time frame, the rate is slowly approaching the support level at $1,533 against declining volume. Currently, one should pay attention to the interim level at $1,600, as it plays a key role in terms of further growth. If bulls fail to restore the price, the drop may lead to a test of the $1,480-$1,520 zone.

ETH/USD chart by TradingView

On the bigger time frame, the price is in the wide channel, which means that ongoing sideways trading in the range of $1,550-$1,650 is the more likely scenario.

Ethereum is trading at $1,573 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