Ethereum Weekly Price Forecast – Ethereum Takes Off

Ethereum Forecast Video for 15-01-2024

Ethereum Weekly Technical Analysis

Ethereum has had a very bullish week as we broke well above the crucial $2,500 level, which of course was an area that we had seen a lot of support at in the past, followed by resistance in the last month or so. Ultimately, I think this is a situation where every time we pull back, there will probably be buyers.

In fact, $2,750 I think is going to be your next target. And then after that, you’re looking at possibly going as high as $3,000 rather quickly. We do see a lot of momentum in this market, and therefore I think you’ve got a situation where it’s probably only a matter of time before we have reached there, but maybe $3,600. Underneath, if we were to break down below the $2,100 level, then you know, that could change some things. But right now, this is a market that I think remains very strong. I’m just going to be looking for a bit of a dip in order to pick up cheap coins. I’m not necessarily looking to chase the market after this move.

Either way, you need to keep in mind that cryptocurrencies in general will move in the same direction so keep an eye on the Bitcoin market. If it finally takes off above the $47,500 level and stays above there, that would also be a very bullish sign for Ethereum as well. Looking at the size of the candlestick, it does suggest that we will have plenty of momentum in Ethereum, but if you can drill down to shorter time frames, you could probably take advantage of cheap coins as they appear.

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