Ethereum
$ 1,192.59 0.52%
Solana
$ 37.82 2.27%
Dogecoin
$ 0.069481 3.79%
ApeCoin
$ 5.26 10.33%
Bitcoin
$ 20,693.00 0.40%
BNB
$ 238.04 2.31%

Ethereum price analysis: ETH continues higher, ready to break $2,700? 

Ethereum Price analysis

TL;DR Breakdown

  • Ethereum price analysis is bullish today.
  • ETH/USD slowly continue higher yesterday.
  • Closest resistance at $2,700.

Ethereum price analysis is bullish today as we expect more upside after a steady advance over the last 24 hours. Likely ETH/USD will move to test the $2,700 next resistance, which if broken, would be a very bullish sign for the overall market.

Ethereum price analysis: ETH continues higher, ready to break $2,700?  1
Cryptocurrency heat map. Source: Coin360

The cryptocurrency market has traded with mixed results over the last 24 hours. Market leader, Bitcoin, has gained over 1 percent, while Ethereum almost 3 percent. The rest of the top altcoins have seen similar performance with few exceptions.

Ethereum price movement in the last 24 hours: Ethereum slowly continues towards previous high

ETH/USD traded in a range of $2,532.92 – $2,628.86, indicating low volatility over the last 24 hours. Trading volume has declined by 12.5 percent, totaling $11.16 billion. Meanwhile, the total market cap trades around $312.4 billion, resulting in a market dominance of 18 percent.

ETH/USD 4-hour chart: ETH looks to break $2,700?

On the 4-hour chart, we can see steady advance continuing today, likely leading to a test of the $2,700 resistance by the end of the day.

Ethereum price analysis: ETH continues higher, ready to break $2,700?
ETH/USD 4-hour chart. Source: TradingView

Ethereum price has seen an end to the previous massive selloff. After a final test of downside at $2,200 on the 24th of January, ETH/USD quickly reversed and spiked to $2,700.

The following retracement set higher low around $2,300 on 27th of January before starting to move higher on Friday. Since then, we have seen a slow advance towards the $2,700 mark, potentially indicating that the market lacks momentum to break higher.

However, in the case that Ethereum price breaks higher, we expect a lot more upside to follow next week. In this scenario, the overall market structure would become very bullish once again.

Ethereum price analysis: Conclusion 

Ethereum price analysis is bullish today as we expect the $2,700 resistance to be tested soon. If ETH/USD can break above the resistance, a lot more upside is expected early next week.

While waiting for Ethereum to move further, see our articles on Coinbase vs Coinbase Pro, Hardware vs Software wallet comparison, best Crypto trading platforms in the USA.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Lapin

Lapin

Lapin is an experienced freelance Crypto and Financial market writer and analyst. He has been trading for several years and holds a bachelor’s degree in Finance.

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