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Ethereum (ETH) Price Analysis for January 18
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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


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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