At the same time, on the morning of January 4th, the exchange rate of the largest altcoin by capitalization, Ethereum, has reached $1.1 K for the first time since February 2018. A breakdown of the psychological resistance level of $1 K can open the way for the cryptocurrency to its historical maximum of $1.4 K, experts say. However, a decline in the price to $1 K and below in the near future may provoke a further fall to $838. (1750$ area) A break above this level and turning it into support would be very bullish. For now, based on TA I expect it to be resistance and a pullback to occur. Hit Like if you want me to chart what I expect $ETH to do over the coming months….

Our Metaverse (83%) and Smart Contract (82%) indices are correlated most to bitcoin, while our Privacy (73%) and DeFi (73%) indices are correlated least to bitcoin . On macro markets, bitcoin’s correlation to tech stocks has increased slightly compared to last month but remains comfortably below 50% .

Bitcoin and Ethereum dip below key price levels

Guest author Nikhil Shamapant explains more about the ethereum merge and what it could mean for ETH price in 2023 in his recent article. The cost of ethereum has significantly dropped during the past two trading sessions. The ETH cryptocurrency’s daily price chart reveals some intriguing trading patterns. The ETH cryptocurrency originally exhibited a head and shoulders pattern throughout the chart, Ethereum Price History which was followed by a consolidation stage. Then it came across short-selling as it dipped slightly to gather support and then rose once more to form a head and shoulder pattern. Overall, most cryptocurrency market analysts expect Ethereum to make a rebound before the end of the year. Some Ethereum price predictions expect Ethereum to push back through the $2000 mark by the end of the year.

Undoubtedly, there will be a crash in the price of Ethereum at some point. If you study Ethereum’s price https://www.tokenexus.com/ history, it typically follows market trends and has a habit of crashing after highly bullish periods.

Is Ethereum a good investment and should I buy ETH?

Reliable in the sense that their fees are reasonable, and you can trust them not to run away with your assets. To give you an idea of how big a deal Ethereum is in the NFTs market, an Ethereum-based NFTs platform called Polymath raised $59 million in funding in 2021. Not only is it preferred by many for minting NFTs, but most of the large NFT marketplaces are also based on the Ethereum blockchain.

Because of this, Ethereum is often regarded as having more potential than any other cryptocurrency or blockchain project. Smart contracts to carry out transactions that are 100% secure. Ethereum was the first cryptocurrency project to marry smart contracts with blockchain technology, which enabled it to become a platform for so many different applications. Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Right now, Ethereum is definitely considered a good investment. And, if you are looking to invest in it, now would probably be a good time to do so.

ETH/USD

That’s said, a good understanding of technical analysis can give you a good idea of how a cryptocurrency will be trading going into the future. The dropping prices have also drawn the interest of government regulators to cryptocurrency prices. This has further pushed Ethereum prices lower as investors fear that adverse regulations could be underway. At the same time, external factors have weighed heavily on the price of Ethereum in 2022. For instance, the war in Ukraine and the aggressive interest rate hikes by Central Banks have taken investor appetite away from risky assets like Ethereum. In terms of fundamentals, Ethereum is undoubtedly one of the best cryptocurrencies in the market today. It is used as a launch platform for all kinds of decentralized applications, ranging from DeFi to games and even NFTs.

For trading ethereum over the next two to four weeks, we are neutral to bearish. That means we expect prices to either stay the same or fall, with less chance they will fall. Ether cryptocurrency was created by Vitalik Buterin who was inspired by Bitcoin.