Ethereum Price closed 2017 with a pullback followed shortly by a new all-time high in the first 48 hours of January 2018. What’s next for Ethereum Price? Is the push forward likely to continue? Is Ethereum Price about to reach 1000 USD? and the most important question as we start 2018: What will happen once Ethereum price reaches 1000 USD?
Those are the questions we will cover in our article along of course with the important price levels investors need to keep an eye on.
Ethereum price support levels January 2018
The annotated chart below shows how the resistance area around 750 USD will likely become a first support area in the case of a retrace. We have to see a successful back test to validate.
Next support level is 600 USD Backtested twice. 400 USD is the strongest Ethereum price support level, it represents the breakout point and was backtested 3 times before
Ethereum price resistance levels January 2018
There is one major resistance level for ETHUSD for the month of January 2018. That level is 1000 USD. The 1000 USD is not only the materialization of our forecast but also an important psychological barrier.
Ethereum Price Outlook for January 2018
Overall, our outlook for January is very positive. Ethereum price will need to break the 1000 USD barrier which will probably not happen in the first attempt. Once the 1000 USD barrier in broken to the upside, 2 scenarios are very likely:
- Either Ethereum price will correct and backtest the 750 USD area and possibly the 600 USD area. before resume the uptrend.
- The very Bullish scenario will be that Ethereum price attracting more buyers once the 1000 USD is broken to the upside and we see the price reacting similar to how Bitcoin price spiked to touch 22,000 USD once the price broke the 10,000 USD resistance level. In that case, Ethereum price could reach 1500 USD rather quickly.
In general Ethereum price remains very Bullish unless it drops below 400 USD. In that case we have to re-evaluate based on what’s happening and the chart set up. How the price will react once at 1000 USD will be very telling. Ethereum price reaching 1000 USD will also represent the materialization of our Ethereum forecast from earlier this year.
Find our monthly Ethereum price levels outlooks for October, November and December by following the links. Very useful if you are trying to understand Ethereum price evolution in the second half of 2017.
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