Ethereum Price Analysis Jan.22: ETH Struggles To Stay Above $100 Following a Death Cross

Ethereum Price Analysis Jan.22: ETH Struggles To Stay Above $100 Following a Death Cross

Over the past two days, BTC has been going sideways. This consolidation came up following a very bearish hourly candle that dropped BTC from $3690 to $3470 (Bitstamp).

It is unclear at the moment if this consolidation will turn into a bear flag formation (more bearish action to come) or a “drop base rally” formation (inverted Bart pattern) which will typically lead to a bounce back upward.

ETH, at the same time, retested the last support level of $113.6 and is currently ‘locked up’ in a channel. The range of $111 – $113 serves as a support level and $121 – $126 as a resistance level.

Looking at the 4-hour ETH-USD chart

Looking at the 4-hour ETH-BTC chart

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