Ethereum (ETH) Price Prediction for January 16

The market keeps rising today, according to CoinStats.

ETH/USD

The growth of Ethereum (ETH) has gone up by 1% since yesterday.

On the hourly chart, the rate of ETH is on its way to the local support of $3,303. If it breaks out, traders may witness a test of the $3,250 zone soon.

On the bigger time frame, sellers are trying to seize the initiative. If the daily bar closes around current prices, the correction is likely to continue to the $3,100-$3,200 area by the end of the week.

From the midterm point of view, neither bulls nor bears are dominating.

If the situation does not change by the end of the week, one can expect ongoing sideways in the range of $3,100-$3,300.

Ethereum is trading at $3,275 at press time.

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