Ethereum Price Prediction: Can ETH Rally Back to $1800?

Last updated: 2023-01-17

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Ethereum price is gaining momentum above the $1,500 and $1,540 resistance levels, and is currently trading at $1,565.52. ETH could climb further to a $1,600 level unless there is a downside correction below the $1,540 support.

Ethereum (ETH) price analysis

In the past few days, Ethereum saw a strong increase above the $1,500 level against the US Dollar.

The bulls even cleared the $1,540 resistance zone. An immediate resistance on the upside is near the $1,580 level. The next major resistance is near the $1,600 zone.

Any more gains could even send the price towards the $1,650 resistance zone in the near term. On the downside, an initial support is near the $1,540 level. There is also a key bullish trend line forming with support near $1,540 on the 4-hours chart.

If correction happens, a break below the $1,460 support could push the price to $1,350. Any more losses could lead the price towards $1,300 or even $1,220 in the coming days.

ETH price technical indicators

4 hours MACD – The MACD for ETH/USD is now gaining momentum in the bullish zone.
4 hours RSI – The RSI for ETH/USD is now above the 50 level.
Key Resistance Levels – $1,600 and $1,650.
Key Support Levels – $1,540, followed by the $1,460 zone.

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