#ETHProspects

As of January 23, 2025, Ethereum (ETH) is trading at approximately $3,218.67, reflecting a decrease of 2.42% compared to the previous closing.

Technical Analysis:

On the 4-hour chart, the price action of Ethereum shows a Wyckoff accumulation pattern in the range of $2,000–$2,800, reaching a peak breakout and a strong price increase above the key threshold of $3,500.

Key Levels:

Support:

$3,222.00 – A critical 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 action 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; a break below this level may lead to further bearish adjustment towards $3,017.30. Conversely, holding above this support level could lay the groundwork for a recovery towards the resistance of $3,500.00.

$ETH