Daily Ethereum Price Prediction (Jan 28th): Urgent! Ethereum Support Now Most Important!

Ethereum price is currently trading at a major support on the 4-hour timeframe. This $1,477 zone is very important. Because a break below it could end the Ethereum bull rally.

In this Ethereum analysis, we will analyze why this key support is so important and what happened to the Ethereum price when it failed to sustain the key level of $1,477 last time.

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ETH $1,477 support. Will history repeat itself?

The last time the Ethereum price failed to sustain this critical $1,477 support zone on the 4-hour timeframe, there was a massive sell-off in the Ethereum price.

The sale caused Altcoin’s price to plummet further. -twenty five% in a few days! This price crash dashed the hopes of the ETH bulls and led to the end of a possible rally seen late last year.

Basically, this massive sale of ETH also happened when FTX declared bankruptcy and lost billions of customer funds.

Well, Ethereum price is at this level again! And the question traders are asking is, will this $1,477 zone hold for him this time around, or will there be another market panic that will cause another crash?

What are your plans for the future?

For now, the most important support for Ethereum price is the $1,477 zone on the 4-hour timeframe.

This critical level is both technically and fundamentally important for the ETH price, and how altcoins react to it in the next few days will have a major impact on the trend direction the Ethereum price will take for the foreseeable future. give.

If this critical support continues to hold, it is very likely that the bulls will push ETH price further in the coming days.

Check out our previous ETH TA for a full breakdown of what we’re seeing right now in ETH price The ETH Ranging Market Continues! Where will the price break out?

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