Ethereum Price Prediction – January 12
The Ethereum price prediction shows that ETH is breaking above the $3300 barrier as eyes glued on $3500.
Resistance levels: $3600, $3800, $4000
Support levels: $2800, $2600, $2400
ETH/USD is seen refreshing to a new high after touching the daily low of $3206 to move close to $3400 level as the coin trades at $3351 with a bullish crossover above the 9-day moving average. At the time of writing, ETH/USD may stay above the 9-day moving average if the price crosses above the resistance level of $3400.
Ethereum Price Prediction: Ethereum (ETH) May Head to the Upside
According to the daily chart, the Ethereum price may keep following the upward movement; parallel trade can only take over if the $3400 subsidy is maintained at all costs. Currently, the technical indicator Relative Strength Index (14) is likely to cross above 40-level which could send more bullish signals into the market.
Meanwhile, in as much as the red-line of 9-day MA remains below the green-line of 21-day MA, the coin may remain at the downside and the price could hit the support levels of $2800, $2600, and $2400 respectively. More so, if the technical indicator decides to stay above 40-level, then, there may be additional bullish movements which may likely push the coin to hit the resistance levels of $3600, $3800, and $4000.
Against BTC, Ethereum is trading below the 9-day and 21-day moving averages as the price prepares to cross to the higher side. However, for the fact that the market remains below the moving averages, the coin seems to be moving towards the north as the technical indicator Relative Strength Index (14) moves to cross above 50-level.
Meanwhile, if the buyers push the market price above the 9-day and 21-day moving averages, ETH/BTC may touch the potential resistance levels at 8200 SAT and above. On the other hand, if the coin decides to cross below the lower boundary of the channel, higher selling pressure may cancel the bullish pattern, and this could attract new sellers coming into the market with the next focus on the support level of 7000 SAT and below.
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