ETH Price Prediction: Today’s Ehereum Price, 2nd Jan 2023

The top two cryptocurrencies are essentially unchanged from the previous weekend to end 2022, a terrible year for coin pricing. Investors are getting ready to ring in the New Year 2023, and Bitcoin (BTC) is still seeing choppy trading because there isn’t much volatility. A break of this level could decide future trends, but Ethereum is choppy and oscillates in a small band of $1,180 to 1,200, so the Bitcoin price and Ethereum projection haven’t altered much recently. Despite having a difficult year, Ethereum’s (ETH) fundamental value is higher than its current market price.

Today’s Ethereum Price

Ethereum Price Prediction

Ethereum’s price at the moment is $1,195, and its 24-hour trading volume is $2.5 billion. Like Bitcoin, Ethereum is falling, but at $1,180 it has found quick support. A rising trend line seen over a 4-hour period of time extends this support level.

In the 4-hour timeframe, a candle closing over $1,180 will almost certainly indicate a bullish reversal. The 50-day simple moving average is stretched by a positive reversal, which might push Ethereum’s price to an immediate resistance level of $1,220.

On the other side, a break below an upward trend line might cause the selling trend to continue and reach the next two support levels of $1,150 and $1,100.

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