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Ethereum (ETH) price trend shows a rapid V-shaped recovery, gaining momentum that could push it beyond $3,250. Will this breakout rally reach $3,415?
Ethereum’s price is steadily gaining traction as Bitcoin (BTC) crosses $97k. After dipping below the $3,000 mark to a temporary low of $2,913, Ethereum has since regained ground above the $3,200 level.
This rebound reflects increasing market confidence. Could this recovery lead to a surge toward the $4,000 mark?
Ethereum Price Analysis
In the 4-hour price chart, the Ethereum price trend reveals a V-shaped reversal, accounting for a price surge of 11% from the recent low of $2,913. Currently, Ethereum is trading at $3,235 and has risen above the 20 EMA line, suggesting an early bullish signal.
Meanwhile, Ethereum’s recovery is testing the resistance level at $3,244. The alignment of the 20, 50, 100, and 200 EMA lines on the 4-hour chart is bearish, indicating potential resistance ahead.
Thus, Ethereum’s recovery could face multiple dynamic resistance levels. However, the bullish divergence in the 4-hour RSI line suggests strong underlying support, leading to a swift turnaround.
This divergence underscores growing buyer interest, and as buying pressure increases, a breakout is more likely, especially with the broader market’s recovery.
Ethereum ETFs Conclude 4-Day Outflow Streak
On January 14, Ethereum ETFs recorded a net inflow of $1.15 million, led by Bitwise. This marks a positive shift after several days of selling pressure.
However, other listed ETFs experienced net-zero flows, reflecting market stagnation as the broader market stabilizes.
The positive inflow ends a four-day streak of outflows, which had amounted to nearly $260 million.
ETH Price Target
As Ethereum’s V-shaped recovery continues, bolstered by its movement above the 20 EMA, bullish expectations are rising. Based on recent price action, the next resistance level beyond $3,244 is $3,415.
However, the 50 and 100 EMA lines at $3,278 and $3,358, respectively, will act as dynamic resistance. On the downside, key support levels include the 20 EMA at $3,210 and the psychological $3,000 mark. These levels will be crucial in determining Ethereum’s short-term price trajectory.