Ethereum price aims for new all-time highs above $1,440 as whales continue to accumulate


  • Ethereum price defended a crucial support level on the daily chart and aims for a new all-time high.
  • ETH whales have continued to accumulate the coin despite the sell-off on January 11.

Ethereum price managed to hit $1,348 on January 10 before a crypto market sell-off that took the digital asset down to $915. However, bulls bought the dip aggressively and pushed ETH to $1218 currently.

Ethereum price faces very low resistance towards $1,440. 

On the daily chart, the most critical support level throughout the bull run has been the 26-EMA. On January 11, bulls defended this level at $915 yet again and bought the dip pushing ETH back above $1,200 within the next three days.

eth price

ETH/USD daily chart

Besides the bulls buying the dip, whales also continued to buy more Ethereum despite the sell-off. The number of large holders with 100,000 to 1,000,000 coins ($120,000,000 to $1,200,000,000) increased by nine since January 1. This indicates that whales are accumulating Ethereum expecting it to rise even higher in the near future.

eth price

ETH Holders Distribution

Additionally, the Eth2 deposit contract has just reached a total value of $3 billion and over 2.5 million ETH locked inside, adding even more buying pressure to the digital asset. 

eth price

ETH IOMAP chart

The In/Out of the Money Around Price (IOMAP) chart showed only one significant resistance area located between $1,131 and $1,164 and practically no hurdles until $1,300 which means Ethereum price will most likely hit this target.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin must reclaim $40,000 or risk plummeting to $20,000, curtailing crypto bull run

Cryptocurrencies in the market seem to be resuming their uptrends, following significant losses in the previous weeks. Uncertainty in the market was brought about by Bitcoin’s swings to $40,000 and back to $34,000.

More Bitcoin News

Chinese investors are growingly concerned that Polkadot fails amid EOS-like fraudulent activity

Polkadot is known as the Ethereum Killer and although started trading in 2020, quickly reached a market capitalization of $4 billion. This blockchain protocol offers a high throughput and low-cost transactions, but what does make DOT different than any of the other Ethereum competitors like EOS?

More Crypto News

Binance Coin Price Forecast: BNB makes new all-time highs, bulls target $60 before ultimate upswing to $100

BNB price was able to hit a new all-time high at $46.88 on January 18 after a long grind that started in March 2020. The digital asset has been trading inside a healthy and robust uptrend and could rise even higher.

More Binance Coin News

Ethereum price looks ready for lift-off, targeting new all-time high of $1,700

Ethereum outperformed Bitcoin this past weekend and remains trading above $1,200. The digital asset seems to be contained inside an ascending triangle pattern on the 4-hour chart and could see a breakout in the near term. 

More Ethereum News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. 

Read the weekly forecast

BTC

ETH

XRP