Ethereum (ETH) Price Analysis for January 26

Some coins are trying to return to the green zone, according to CoinStats.

$ETH/USD

The price of Ethereum ($ETH) has gone up by 0.36% over the past day.

On the hourly chart, the rate of $ETH is testing the local resistance at the $2,934 level. If its breakout happens, the upward move may continue to the vital $3,000 zone.

On the longer time frame, the price of the main altcoin is rising after a false breakout of the support at $2,791. However, the volume remains low, which means traders are unlikely to see sharp moves soon.

All in all, consolidation in the area of $2,900-$3,000 is the most likely scenario over the next few days.

From the midterm point of view, the situation is similar as none of the sides is dominating. In this regard, traders are unlikely to witness sharp ups or down soon.

Ethereum is trading at $2,940 at press time.