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  • Anjali Belgaumkar
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    Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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Ethereum Price Prediction For January 12

  • currency-symbol ETH $ 1,811.73 (1.59%) top gainer
Story Highlights
  • Ethereum correction continues, key support at $2,400-$2,840; break below $3,170 signals further downside.

  • Ethereum shows signs of potential upside breakout despite correction, with bullish trend intact for future highs.

Ethereum’s price is currently experiencing a correction, which started in early December. The price seems to be moving down towards a key support range between $2,400 and $2,840. Even though this move may unfold in multiple stages, there is a chance the correction could end earlier than expected. At the time of writing, Ethereum is down by more than one percent and is trading below the $3300 level. 

Key Resistance and Support Levels

The trend is bearish as long as Ethereum remains below the resistance zone between $3,370 and $3,613. A break below $3,170, the low from Thursday, would likely signal further downward movement. If Ethereum manages to push higher within the resistance area, it may indicate that a larger pullback is forming.

Alternative Scenario: Potential Upside Breakout

There is an alternative scenario to consider, where the current price action could form a triangular pattern, possibly leading to a breakout to the upside. Although this is less likely, it’s worth keeping an eye on as it could have positive implications for Ethereum.

Looking Ahead: Possible Path to New Highs

Despite the short-term downtrend, the overall uptrend remains intact. If Ethereum finds support soon and begins to stabilize, it could pave the way for a stronger rally toward new all-time highs. Watch for signs of a price bottom, as this could signal the next upward move.

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