Claim BonusETH Price Analysis: Ethereum Trading In Parallel Channel Below EMAs Between $215 And $242
ETH price is trading between 215 and 252 in a huge parallel channel with consolidation within it. After these formations, we will see a breakout coming in when the upper and lower lines touched strong enough.
ETH Price Analysis: 4 Hr Chart
ETH Price is trading below the 20 and 55-EMA which can confirm the next bounce to the downside as it is strong resistance and also we have an EMA cross down here which is confirming this view.
The RSI is sending moderate signs more to the downside which can provide with a test of lower levels here to touch it before backing up again to confirm the consolidation in the channel ETHUSD has. This channel will break either up or down and after the channel is broken it will confirm with high volume and momentum in the best case after that we will see a trend following in the breakout direction.
- TREND: Sideways
- EXPECTATION: Consolidation up and down
- TREND AFTER EXPECTATION: EIther up or down
- RSI: Moderate to more bearish
- PREV: 238.12
- OPEN: 238.03
- VOLUME: 20.1K
- DAY’S RANGE: 232.84 — 238.62
With Eth 2.0 updates and other positive news coming in, it will be interesting to see how ETH prices react to these updates. Keep following our analysis section for more updates.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Ripple CEO Reiterates Support for CLARITY Act as White House Crypto Czar Signals Regulatory Progress
- Trump Tariffs: E.U. Suspends U.S. Trade Deal Amid Tensions Over Greenland
- Senate Ag. to Release Crypto Bill Text Today Ahead of Jan. 27 Markup: What to Know
- Trump Davos Speech: Bitcoin Rises Above $90k as U.S. President Aims To Sign CLARITY Act Soon
- Bitget Releases Universal Exchange Whitepaper as It Expands Beyond Crypto Trading
- Bitcoin Price Prediction Ahead of Key US Inflation and GDP Data
- XRP Price Forecast as Binance Officially Lists Ripples’s $RLUSD Stablecoin
- Dogecoin, Shiba Inu, and PEPE Predictions as Bitcoin Price Drops Below $90k
- Is Pi Network Price Going Through a Tough January?
- Chainlink Price Prediction After 24/5 Stock Data Launch: What’s Next For LINK?
- XRP Price Eyes a 25% Rebound Ahead of Brad Garlinghouse Statements at Davos Summit
