Ethereum’s price today is 2,544.77 USD, with a 24-hour trading volume of 25.52 B USD. ETH is down -11.47% in the last 24 hours. It is currently -24.72% from its 7-day all-time high of 3,380.57 USD, and 2.67% from its 7-day all-time low of 2,478.49 USD. ETH has a circulating supply of 119.26 M ETH.
Ether’s (ETH) long wick on the Jan. 20 candlestick indicates that the trend remains negative and traders are selling on relief rallies to strong resistance levels.
The selling has continued on Jan. 21 and bears have pulled the price below the immediate support at $2,928.83. This opens up the doors for a possible drop to $2,652 where buyers are anticipated to mount a strong defense.
If the price bounces off $2,652, the bulls will again try to push the ETH/USDT pair above the 20-day EMA and the resistance line of the channel. If that happens, the pair could signal a change in trend.
Conversely, if bears sink and sustain the price below $2,652, the selling could accelerate and the pair may drop to $2,000.