Ethereum Commences Its Range above $3,000 in Support

Ethereum (ETH) Current Statistics

The current price: $3,285.28
Market Capitalization: $395,234,966,665.36
Trading Volume: $34,548,399,456.04
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis January 18, 2025

The price of Ethereum (ETH) is range-bound above $3,000 in support but below the $3,500 resistance or moving average lines. Ether attempted to rise on January 15 but was again thwarted at the $3,500 resistance. Buyers failed to sustain the positive momentum above the moving average levels. The largest altcoin rose above the moving average in the last price action but was repelled at the $3,744 high.

Ether is currently declining below the lines of the moving averages. The altcoin is getting closer to the $3,100 current support. On the downside, the altcoin will return to its prior low of $2,941 if Ether loses the current support.

ETH Technical Indicators Reading

Ether falls below the moving average lines as the negative momentum breaks below them. On the downside, Ether may revert to the critical support level at $3,000. The Bulls have been defending the vital support since November 14, 2024. The long candlestick tail suggests significant purchase demand at lower prices.

Conclusion

Ether is currently in a range-bound move above $3,000 in support and below the moving average lines or the resistance at $3,500. Ether hit a low of $3,245.70, continuing its downward trend. If the bearish trend persists, the largest altcoin will find support above the $3,000 support. Since the altcoin trades within the restricted range, the crypto signal is range-bound.

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