CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
coinpedia 2025-01-11 06:40:24

Ethereum Price Prediction For January 11

The post Ethereum Price Prediction For January 11 appeared first on Coinpedia Fintech News Ethereum price has currently drifted into the red zone and the price is slightly trading above the $3200 levels. As of now, Ethereum has sold off by about 25%, and its current price is around $3,300, marking a 20% drop from its cycle high. While confirmation is not yet complete, higher lows and lower highs suggest a potential breakout in either direction. The broader trend remains bullish, and the current price movement appears to be a correction within that larger uptrend. Bitcoin remains the dominant force in the market, holding 55% dominance. However, Bitcoin’s dominance is starting to cool off, which is positive for Ethereum and altcoins. Resistance Level to Watch Ethereum faces important resistance between $3,370 and $3,613. A breakout above this range would signal the end of the correction and could indicate the start of a new bullish trend. Short-Term Bearish Scenarios Wave Structure: One possible bearish scenario is that Ethereum could be following a corrective wave pattern, with a potential five-wave decline forming. However, this would be a short-term bearish outlook. As long as Ethereum remains above $2,400, the overall uptrend could still continue. Altcoins Impact: Many altcoins are showing signs of weakness, which could put additional pressure on Ethereum’s price. Triangle Pattern Potential Ethereum may also be forming a triangle pattern. If this is the case, more sideways movement may occur before a breakout. A breakout above $3,613 would suggest the development of a bullish triangle pattern, potentially leading to a strong upward move. Bullish Scenario Ethereum might be in a “one-two” setup, with a potential bottom already established. If Ethereum breaks above $3,613, it would invalidate the bearish scenario and increase the likelihood of a bullish breakout.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.