January 28, 2021

CEX.IO company blog | Decrease or new wave of growth: when will Ethereum continue to rise in price?

A few days ago, the second cryptocurrency renewed its three-year high above $ 1,300, but has since the asset price only falls. Over the past day, the Ethereum rate dropped to $ 1,050, dropping below $ 1,000 at the moment. By the evening of January 14, the rate rose again and fluctuates around the $ 1,200 mark.

Why is the correction of quotations in the near futuredigital money can continue and is it worth entering the market right now? To what level can the price of ether drop, is it worth buying a cryptocurrency now, and when it breaks the historical record of $ 1,400 - says Yuri Mazur, head of data analysis at the international crypto broker CEX.IO Broker.

The most likely scenario is a drop in ETH to the correction level, or $ 906.4.

This level was reached on January 11, and then there was a sharp rebound, which demonstrated its significant reversal potential and high concentration of orders on it.

The decline may continue to the level of $ 558.3or $ 647.8, after which a new stage of asset value growth is likely. Just at this time, it is possible to update the historical maximum, for example, in the fourth quarter of 2021.

Read the full material here.

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