Ethereum Price Prediction Daily (09-Jan): ETH Bullish Rally Continues! Is This The Start Of Something Bigger? Watch this Key level

6:37 pm, Mon, 9 January 23

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The Ethereum bullish rally has continued throughout today, with the Altcoin price pushing more than +5% already.

However, this rally has pushed the ETH price into a major level we have been talking about for a while now. In this Ethereum analysis, we will be breaking down why this $1,400 key resistance is very important and the possible price scenarios we can expect in the coming days.

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ETH $1,400 Key Resistance Level

ETH Bullish Rally Continues! Is This The Start Of Something Bigger? Watch this Key level in the 4-hour timeframe
ETH Bullish Rally Continues! Is This The Start Of Something Bigger? Watch this Key level in the 4-hour timeframe

The Ethereum price is currently running into major resistance in the 4-hour timeframe.

This $1,400 price level has served as a major level Ethereum has respected over and over again in the past. And in the coming days, we expect to see a price reaction from this level.

In the sections below, we will be talking about the possible bullish and bearish price scenarios we can expect and what that might mean for Ethereum.

ETH Bullish Price Scenario

ETH Bullish Rally Continues! Is This The Start Of Something Bigger? Watch this Key level in the 4-hour timeframe
ETH Bullish Rally Continues! Is This The Start Of Something Bigger? Watch this Key level in the 4-hour timeframe

For the ETH bullish price scenario, we want to see the ETH price breakthrough this $1,400 key resistance region in the 4-hour timeframe.

Unless the bulls can push the Altcoin price above this key resistance, we might just see the end of this Ethereum bull run and a fallback lower.

However, if Ethereum breaks through this level, this could be the start of a much larger move up for the Altcoin.

ETH Bearish Price Scenario!

For the Ethereum bearish price scenario, we want to see this $1,400 key resistance region hold.

If the Ethereum bears can hold on to this key resistance and prevent the Ethereum price from breaking out, there is a very high probability that we might see a renewed push to the downside in the coming days.

ETH Bullish Rally Continues! Is This The Start Of Something Bigger? Watch this Key level in the 4-hour timeframe
ETH Bullish Rally Continues! Is This The Start Of Something Bigger? Watch this Key level in the 4-hour timeframe

Final Verdict!

Ethereum is currently trading at a key resistance region in the 4-hour timeframe. And how the price reacts to this level will have a major effect on the direction the ETH trend will eventually take in the coming days.

We will be keeping a close eye on this $1,400 level to see what the price does around this region in the coming days.

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