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Ethereum (ETH) Price Analysis for January 18
Cover image via www.tradingview.com

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The prices of some coins are rising, while others are staying in the red zone, according to CoinStats.

ETH chart by CoinStats

ETH/USD

The rate of Ethereum (ETH) has declined by 1.165% since yesterday.

Image by TradingView

On the hourly chart, the price of ETH is rising after a bounce back from the local support of $2,503. If buyers can hold the initiative, there is a chance to see a test of the resistance by tomorrow.

Image by TradingView

On the bigger time frame, bears remain more powerful than bulls. If the rate does not come back to the $2,600 zone soon, there is a possibility of seeing an ongoing decline to $2,400.

Image by TradingView

From the midterm point of view, ETH still has a chance to keep rising, as the price is above the $2,447 level.

However, if buyers lose it, the correction may lead to a test of the $2,300-$2,400 zone by the end of the week.

Ethereum is trading at $2,527 at press time.


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