{"id":20178,"date":"2023-01-31T09:41:37","date_gmt":"2023-01-31T09:41:37","guid":{"rendered":"https:\/\/zebpay.com\/au\/?p=20178"},"modified":"2023-02-01T13:09:46","modified_gmt":"2023-02-01T13:09:46","slug":"ethereum-technical-analysis-report-31st-january-2023","status":"publish","type":"post","link":"https:\/\/zebpay.com\/au\/blog\/ethereum-technical-analysis-report-31st-january-2023","title":{"rendered":"Ethereum Technical Analysis Report | 31st January 2023"},"content":{"rendered":"\n

Buyers failed to take advantage of Ether’s strong rally at the 20-day EMA ($1,520) on Jan 25th, suggesting that the bears are selling on rallies near the overhead resistance at $1,680. Yesterday’s surge brought Ethereum\u2019s rally to its strongest point in a week, but traders used it as an ideal moment to lock in recent gains. Last week, four months after Ethereum transitioned to a proof-of-stake network, over 15.9 million ETH has been staked on the Beacon Chain. The asset is down by 2% while the global volume has risen by almost 27%. Ether\u2019s current market dominance is at 18.45%. <\/p>\n\n\n\n

At the time of writing, ETH<\/a> was trading at $1,583.5<\/p>\n\n\n\n


<\/p>\n\n\n\n


ETH was trading sideways in a range from $1,050 to $1,300. The asset finally gave a breakout above the range and started moving upwards by forming a \u2018Higher High Higher Low\u2019 pattern and rallied up to $1,679. Post this move, the prices started consolidating between $1,525 to $1,650. ETH has strong support around $1,500 (200 Day Moving Average) whereas $1,700 to $1,750 will act as a strong resistance zone for the asset. Hence, to further rally, ETH needs to break, close and sustain above $1,750. <\/p>\n\n\n\n

  Support 2<\/strong><\/td>Support 1<\/strong><\/td>Asset<\/strong><\/td>Resistance 1<\/strong><\/td>Resistance 2<\/strong><\/td><\/tr>
$1,250<\/td>$1,500<\/td>ETH<\/strong><\/td>$1,750<\/td>$2,000<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
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TRADE ETHEREUM<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Buyers failed to take advantage of Ether’s strong rally at the 20-day EMA ($1,520) on Jan 25th, suggesting that the bears are selling on rallies near the overhead resistance at $1,680. Yesterday’s surge brought Ethereum\u2019s rally to its strongest point in a week, but traders used it as an ideal moment to lock in recent […]<\/p>\n","protected":false},"author":1,"featured_media":20179,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[16],"class_list":["post-20178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","tag-crypto"],"acf":[],"_links":{"self":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/comments?post=20178"}],"version-history":[{"count":2,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20178\/revisions"}],"predecessor-version":[{"id":20212,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/posts\/20178\/revisions\/20212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media\/20179"}],"wp:attachment":[{"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/media?parent=20178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/categories?post=20178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zebpay.com\/au\/wp-json\/wp\/v2\/tags?post=20178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}