Ethereum Consolidates above $3,100 as Buyers Recover

Ethereum (ETH) Current Statistics

The current price: $3,274.03
Market Capitalization: $394,396,489,148.86
Trading Volume: $22,939,529,444.07
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis January 11, 2025

The price of Ethereum (ETH) drops below the moving average lines as buyers recover. Buyers were unable to sustain the upward momentum above the $3,700 high. The largest altcoin was unable to return to the $4,094 peak. On the downside, on January 9, 2024, Ether hit a low of $3,165. The price of Ether dropped to $3,106 on December 20. The cryptocurrency consolidates below the moving average lines but above the $3,200 support.

If the bears break below the $3,100 support, Ether will fall and reenter the psychological price level of $3,000.00. Ether is now valued at $3,254.50.

ETH Technical Indicators Reading

The moving average lines are above the price bars. The 21-day SMA opposes the upward movements. Additionally, the cryptocurrency’s negative signs are shown by a bearish crossover of the moving average lines. As Doji candlesticks develop, Ether is consolidating above the $3,100 support.

Conclusion

Ethereum is now in a range-bound move above the $3,100 support and below the moving average lines as buyers recover. Ether is trading in a confined range on the 4-hour chart, below the $3,300 resistance, and between the $3,100 support. Ether price drops after reaching the resistance at $3,300 or the 21-day SMA barrier. The cryptocurrency signal is currently bearish, and Ether is steadily dropping.

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