Ethereum

Ethereum (ETH) Price to Rise Above $3700 By the End of Jan! Here’s what Traders can Expect For Q1 2022

Written by: Nidhi Kolhapur

Written by right arrow

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

  • author facebook
  • author twitter
  • linkedin

Jan 11, 2022

news-image

Ethereum (ETH) Price dropped to $2,930 and then corrected higher against the US dollar. The major altcoin is on the rise and a close below $3,200 may spark a strong recovery.

Currently, ETH price extended decline and traded below the $3,050 support. The price dropped below $3k, but the bulls took control near the $2,920 level. The second-largest altcoin is now rising and trading above $3,100. Immediate resistance is near the $3,150 level. The next key hurdle is near  $3,200, above which the price might gain strength.

The weekly chart’s 50-week moving average is holding up well following its first test since May 2021. Throughout prior bull cycles, Ethereum has successfully maintained this important support level, which may indicate that a rebound is on the horizon. 

To attract buyers, Ethereum needs to reclaim $3,300 as support. Passing through this level of resistance could provide enough bullish momentum to propel ETH to $3,700 or $4,120 by Jan end.

Also Read: Should You Wishlist Ethereum, Solana, And Cardano For Short, Mid, And Long-Term Goals?

What’s In Store For Ethereum (ETH) Price In Coming Days ?

Justin Bennett, a well-known crypto analyst, gives forecasts for Ethereum in January. Bennett says in a new strategy session that he’s seeking to buy ETH around the $3,000 mark, which is around 4% below current pricing. 

Ethereum, according to the crypto expert, has to retake a key level in order to resume its macro bull trend.

” If we do see Etheruem over the coming weeks and months reclaim this area up here at $4,000, I do think we’re going to be a continuation of the trend that we saw in 2021.”

The analyst also looks at Ethereum in relation to Bitcoin (ETH/BTC). According to Bennett, ETH/BTC may be breaking out of a bullish triangle, similar to what it did between 2017 and 2020. 

If ETH/BTC can sustain 0.075 BTC ($3,077) as support, the crypto expert believes it will be poised to start a long-term climb to 0.18 BTC ($7,388). 

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Related Articles

Back to top button