Ethereum price analysis for Jan 30, 2022, brings a 3rd consecutive bullish green candle on the daily chart. As per our Ethereum analysis from Jan 29, 2022, ETH regained $2.6K and has since then reached a high of $2,631.41 in the last 24 hours. As covered by TheCoinRise in a recent report, ETH fell 18% in 7 days. Since then, ETH has recovered by a significant percentage.
The data from CoinMarketCap shows a 13.60% decline in the trading volume followed by a 2.12% rise in the market cap. The market dominance of ETH at the time of writing is 18.07%, with a price of $2615. Furthermore, the volume/market cap ratio stands at 0.03518.
The daily candle for Jan 30 was initiated at a price of $2601 and reached a daily high of $2640 from a daily low of $2563. Moreover, as per our Ethereum price analysis, the next essential zones for ETH stand at $2.8K and $3K, respectively.
Ethereum price analysis on the daily chart
Ethereum price analysis on the daily chart suggests that the world’s second-biggest cryptocurrency is at $2.6K, a level ETH was rejected from on Jan 26, 2022. Moreover, the daily chart below shows that the MACD line (blue) just broke above the signal line (orange). This is a bullish divergence which means that higher prices will follow.
The RSI indicator shows that ETH has recovered from the oversold levels. Recently, Bitcoin also dumped into oversold levels, and the market has since then recovered. The current RSI level is above 35.
To conclude our Ethereum price analysis for Jan 30, 2022, the world’s second-biggest cryptocurrency is aiming for $3K. Ethereum fell below the important price support of $3,300 and has since then remained bearish. Meanwhile, Ethereum has been widely popular among banks as well.
Recently, The Switzerland arm of Spanish multinational financial institution BBVA has announced it has added Ethereum (ETH) to its cryptocurrency trading services. This makes it one of the pioneering institutions to do so.