Ethereum, Dash, Dogecoin Price Analysis: 14 January

Ethereum was trading within a range but the momentum to the downside appears to have abated, and the next few days may see ETH test the local high once more. Dash formed a bearish reversal pattern but an ensuing slide can be halted at imminent levels of support, while Dogecoin fell by 30% and could trade sideways over the next few days.

Ethereum [ETH]

Ethereum, Dash, Dogecoin Price Analysis: 14 January

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Source: ETH/USD on TradingView

Despite the intense wave of selling pressure on Jan 10th, things were looking quite bullish for ETH on the charts in the long-term. The highs made before the drop saw a range established between support at $975 and resistance at $1290.

The recent local high was followed by a sweep of the range lows as the price briefly dipped past the 38.2% Fibonacci retracement level. Since then, the price has recovered somewhat and was trading beneath the mid-point of the range, which is at $1122.

The 4-hour RSI was back at the neutral 50, and it can be expected that ETH sees a move above $1120, retesting the level as support, and moves upward to test resistance at $1290 in the coming days.


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