Ethereum Bounces Above $3,100 Despite Intense Rivalry

Ethereum (ETH) Current Statistics

The current price: $3,274.87
Market Capitalization: $395,697,696,396.56
Trading Volume: $20,155,636,759.67
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis January 25, 2025

Ethereum’s (ETH) price trades below the moving average lines despite intense rivalry. On January 13, Ether dropped quickly and violated the $3,000 key support but recovered above the $3,100 support. The altcoin has been trading above the $3,100 support but below the moving average lines for the past week. The goal of buyers has been to raise the price above the 21-day SMA. Three times, the crypto’s upward rise has been repelled by the 21-day SMA.

When purchasers maintain the price above the 21-day and 50-day moving average lines, Ether will resume its bullish trend. Following the rejection of the 21-day SMA, Ether is currently declining. The bearish momentum will push Ether to the lows between $3,000 and $2,941. Ether is worth $3,288 at the time of writing.

ETH Technical Indicators Reading

The sideways trend is indicated by the horizontal lines of the 21-day and 50-day moving averages. The cryptocurrency’s price bars are encountering resistance from the 21-day SMA barrier line. The price bars on both charts show a potential decrease because they are below the moving average lines.

Conclusion

Ether is trending sideways on the 4-hour chart despite intense rivalry. The biggest altcoin fluctuates between the $3,100 support and below the $3,500 barrier. The price bars exhibit uniform oscillations both beneath and above the lines of the moving average. Candlestick wicks are pointing toward the $3,500 resistance level. These suggest that there is significant selling pressure at the $3,500 high. The crypto signal will remain range-bound as long as the range-bound values are present.

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