#ETHProspects
As of January 23, 2025, Ethereum (ETH) is trading at approximately $3,218.67, reflecting a decrease of 2.42% from the previous closing.
Technical Analysis:
On the 4-hour chart, the price volatility of Ethereum shows a Wyckoff accumulation pattern in the range of $2,000–$2,800, reaching a peak breakthrough and a strong bullish rise above the critical threshold of $3,500.
Key Levels:
Support:
$3,222.00 – An important support level currently being tested.
$3,130.00 – A recent support level established after a pullback.
Resistance:
$3,500.00 – A significant resistance level where recent rejection occurred.
$3,830.00 – The next major resistance level to watch.
Conclusion:
The current price volatility of Ethereum indicates that it is testing key support levels, with the potential for a bullish adjustment if these support levels hold. Traders should closely monitor the support level of $3,222.00; breaking below this level could lead to a further bearish adjustment towards $3,017.30. Conversely, holding above this support level could lay the foundation for a recovery towards the resistance level of $3,500.00.
