Cryptonews Price Analysis

Could Ethereum Price Be Getting Ready for ATH?

Cryptocurrency

Ethereum

Crypto Writer

Arslan Butt

Crypto Writer

Arslan Butt

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Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Last updated:

January 5, 2025

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Ethereum’s 'Symmetrical Pattern' Hints at a Big Move – Will It Hit New Highs?

Ethereum (ETH) is trading at $3,610, up 0.30% in the last 24 hours, with a trading volume of $15.62 billion. The cryptocurrency market, with a total capitalization of $3.47 trillion, continues to show resilience amid fluctuating sentiment, as evidenced by a Fear and Greed Index score of 61 (Greed).

Ethereum, currently ranked #2 with a market cap of $435.12 billion, is testing a critical resistance zone at $3,675, which aligns with a descending trendline and forms a double-top pattern—a pivotal area for traders to watch.

Current Market Overview

The crypto market’s trading volume stands at $87.46 billion, reflecting steady investor participation. Altcoin Season Index registers 52/100, suggesting a balanced dynamic between Bitcoin and altcoins. Ethereum’s price movement is a focal point as traders anticipate potential breakouts to higher levels.

Ethereum’s Key Price Levels and Indicators

Ethereum is encountering immediate resistance at $3,675, a level critical for any bullish continuation. Breaking above this pivot could pave the way to test $3,829 and $3,977.

🚨 #Ethereum Update: $ETH is testing key resistance at $3,675, aligned with a downward trendline and forming a potential double-top.
A breakout could target $3,829 and $3,977.
Support zones at $3,504 and $3,299.
RSI at 60 suggests moderate bullish momentum. 📊 #Crypto #ETH pic.twitter.com/M9o6CpEnu3
— Arslan Ali (@forex_arslan) January 5, 2025

However, failure to breach this level may lead to a pullback toward $3,504, with further support at $3,299 and $3,097.

Momentum indicators present a mixed picture. The Relative Strength Index (RSI) stands at 60, indicating moderate bullish sentiment.

Ethereum remains above its 50-day Exponential Moving Average (EMA) of $3,490, reinforcing the short-term uptrend.

Nonetheless, the double-top formation raises concerns about potential reversals if the $3,675 resistance holds.

What Traders Should Watch

The Fear and Greed Index at 61 shows prevailing optimism, yet market participants should remain cautious around Ethereum’s current resistance. A breakout above $3,675 could ignite buying momentum, pushing the price toward higher resistance targets.

On the flip side, failure to sustain above this pivot may expose Ethereum to corrective moves, with the 50-day EMA offering initial support.

Key Insights:

Resistance Levels: Immediate resistance at $3,675; breakout could target $3,829 and $3,977.
Support Levels: Key support at $3,504, followed by $3,299 and $3,097.
Market Sentiment: RSI at 60 signals moderate bullish sentiment; price above the 50 EMA suggests near-term strength.

For now, traders should keep a close eye on $3,675 as the decisive point for ETH’s next move.

Flockerz Presale Surpasses $8.8 Million: Last Hours to Join

Flockerz ($FLOCK) presale has now raised an impressive $8.82 million, with the token price increasing to $0.0066087. With just 17 days remaining, the Vote-to-Earn (V2E) model and up to 436% APY staking rewards continue to attract significant attention from investors.

Bright Future: Flockerz’s 2025 Potential

Flockerz is emerging as a notable player in the meme coin space, frequently compared to successful projects like $CHILLGUY. Renowned crypto analysts and influencers, such as ClayBro, have spotlighted Flockerz as a standout opportunity. These endorsements have fueled considerable retail interest, driving the presale’s strong performance.

Key Updates:

Funds Raised: $8.82M
Token Price: $0.0066087
Staking Rewards: Up to 436% APY.
V2E Model: Participate in decisions and earn rewards.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.