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Ether Current Price May Surge to $1419

  • Ether current price performs in a positive momentum this week
  • Ether current market price is at $1340.85, it is up by 6.49% since last 24 hours and 23.74% up from the previous week
  • ETH/BTC pair also performs positive with a gain of 9.81% in Tuesday’s trading session (0.037738)
Source: Coinmarketcap

Ether current price was in positive momentum on the weekly chart and went up to $1347.95 on January 10, 2021, by breaking above the resistance zones created in the past with the help of overall market conditions. The ETH/BTC pair is on an uptrend with a value of 9.81% in Monday’s trading session (0.037738).

Ethereum Technical Charts Indicate Bullish Behaviour In Ether Current Price

Source: TradingView

The daily technical chart of Ether current price highlights a positive trend with the help of overall market conditions on Tuesday’s trading session. The price is currently sitting at $1340.85, with a resistance zone of $1419.18, following the support zone of $1016.31. On diving into the weekly chart of a 30-minute time frame, it formed a bearish engulfing candlestick pattern. Indicating a sell signal in the coin.

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If we look at 20 & 50 days, the exponential moving average (EMA), 20 EMA (blue line) is at $1114.74, and 50 EMA (purple line) is $894.66. The price is above both the EMA one can expect a continued bullish trend in the coin for the next few trading sessions.

The Volume indicator of value (280.891K) reflects a moderate buying volume in the coin with the overall market’s help, we can further see an increase in volume in Tuesday’s trading session.

MACD indicator (Neutral) one cannot observe any bullish crossover on the signal line on January 19, 2021, during the trading session. This indicates a neutral signal in the coin and observes decreasing tiny red bars in the Histogram, signaling it may soon form a bullish crossover.

Meanwhile, the RSI indicator (Bullish) with a value of 69 indicates a buy signal in the coin. It may soon move towards the overbought territory in today’s trading sessions if further buying continues.

Conclusion 

Ether current price is up by 6.49% on Tuesday’s trading session. The price is above 20 and 50 days EMA, and it can move towards the resistance level of $1419 in Tuesday’s trading session.

Resistance: $1419, $1574

Support: $1016.31

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Nikhil Ingolehttp://themarketperiodical.com
Mr, Nikhil Ingole is a cryptocurrency technical analyst with over seven years of technical analysis trading experience in Forex and Indian stock market. As a commerce graduate, he has taken a keen interest in blockchain's future potentials in the financial industry. He possesses strong technical, analytical skills and is well known for his financial market's informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.

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