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Ethereum, Monero, Dogecoin Price Analysis: 21 January


Ethereum reached its two-year highs at $1440 but was unable to push past. Climbing above $1450 would set $1625 as a target for bulls while falling beneath $1290 could see ETH revisit the $1150 support level. On the other hand, Monero showed bearish momentum and was trading just above a crucial level of support while Dogecoin continued to consolidate.

Ethereum [ETH]

Ethereum, Monero, Dogecoin Price Analysis: 21 January

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Source: ETH/USD on TradingView

The ascending channel (orange) has not yet been broken by the price action of ETH. The range that ETH was previously trading in has its upper boundary at $1290, which can be expected to serve as support should ETH see a dip.

The Fibonacci 27% extension projects a target of $1625 for ETH.  The RSI stayed above neutral 50 and showed that the momentum leaned toward the bulls. The OBV also continued to post higher lows, to indicate rising buying volume.

A trading session close beneath the channel, combined with losing the $1290 level, would mean short-term bearishness for ETH and could see a drop to $1150.



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