Ethereum Continues Its Rise as It Halts at $2,700

Ethereum (ETH) Current Statistics
The current price: $2,568.00
Market Capitalization: $308.63B
Trading Volume: $11.99B
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis January 14, 2024
Ethereum’s (ETH) price has twice challenged the resistance level as it halts at $2,700. Ether is now trading near its previous high of $2,700. As it approaches the most recent high, the upward trend comes to a halt above the current support.

Buyers want the bullish trend to continue as long as it is in the positive trend zone. The market will rise above the barrier level at $2,700 provided the present positive momentum is maintained. The positive trend will continue to the $3000 peak. ETH/USD is currently trading just above the $2,500 support level.

ETH Technical Indicators Reading
Ether price bars are above the moving average lines as it halts at $2,700. The upward trend is seen by the moving average lines heading north. Doji candlesticks describe the price behavior of the altcoin. The market’s overbought area is where the largest altcoin is now trading.

Conclusion
ETH/USD is currently trading in a close range, above the current support level of $2,500 but below the resistance level of $2,700. Doji candlesticks show how the price action is moving on the 4-hour chart. These candlesticks have an impact on the coin’s ability to rise or fall.

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