Crypto Price Prediction For January 2: ETH, NEAR, SEI – Crypto News – Crypto News
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Crypto Price Prediction For January 2: ETH, NEAR, SEI – Crypto News

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Crypto Price Prediction: The crypto market returns on a recovery trend with the growth excitement toward potential Bitcoin spot ETF

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Crypto Price Prediction: The crypto market entered 2024 with strong bullish momentum, with a majority of major coins witnessed aggressive buying. The uptick is likely fueled by growing optimism for the potential approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission (SEC), anticipated around January 10, 2024

The Top two leading coins Bitcoin and Ethereum showcased an 8% and 6% jump in the last 48 hours to currently trade at $45616 and $2398 respectively 

The global cryptocurrency market capitalization now stands at $1.76 trillion, marking a notable rise of 6.45% in the past day. Meanwhile, the total volume of cryptocurrency traded in the last 24 hours has surged to $65.2 billion, reflecting a significant 39.61% increase. As for Bitcoin, it currently asserts 50.87% dominance in the market, a slight uptick of 0.52% from the previous day.

In today’s crypto price prediction, we’ll analyze the near future projection of smart contract giant Ethereum(ETH), and the highest intraday gainer Near Protocol(NEAR), and SEI.

Ethereum Price Sees 10% Jump With This Resistance Breakout

Ethereum Price
Ethereum Price| TradingView Chart

The Ethereum (ETH) cryptocurrency has been on a steady upward trend for over 10 weeks, clearly identifiable by an ascending support trendline. Starting from a mid-October low of $1522, ETH’s price has surged to a current level of $2400, marking a significant 57.5% growth. 

This rally has been characterized by several pullbacks, each met with robust demand at the rising trendline, a positive indicator of a well-established uptrend. This trend suggests that the Ethereum price rally is likely to persist as long as the support trendline remains unbroken. 

Today, the ETH price has seen an intraday increase of 2%, hinting at a potential bullish breakout from the last swing high resistance of $2400. If the price can surpass this barrier with a solid daily close above it, there’s room for an additional 10.8% increase, potentially reaching the next key resistance level of $2650. 

Additionally, the 50-day EMA offers dynamic support, further bolstering the ongoing recovery

Constructive Pullback Sets Near Protocol(NEAR) Price Rally to $7

Near Protocol(NEAR) Price
Near Protocol(NEAR) Price| TradingView Chart

The Near Protocol (NEAR) coin recently experienced a slight downturn, dropping 23.36% from its yearly high of $4.62. However, it found reliable support at $3.50, just above the 38.2% Fibonacci retracement level. 

This correction was short-lived, as buyers quickly pushed the price back up, surpassing the $4 mark with a 9.4% intraday gain. Currently, the positive sentiment and healthy retracement have managed to recuperate the exhausted bullish momentum of this asset, 

The Near Protocol price is now trading at $4.16, aiming to surpass its previous swing high of $4.1628. The daily chart reveals a bullish reversal pattern known as a rounding bottom, indicative of sustained investor accumulation. 

This pattern suggests NEAR could aim for targets of $5.25, followed by $6.1 and $7.35. Despite the recent correction, the upward trend of the Bollinger band’s upper boundary signals that bullish momentum remains strong.

SEI Coin Price Eyeing the $1 Milestone with Accelerated Growth

SEI Coin Price
SEI Coin Price| TradingView Chart

Under the influence of a rising channel pattern, the SEI Coin price has also shown a significant recovery since mid-December. The price surged from a low of $0.223 to $0.75, a 236% increase. 

Recently, the SEI price broke through the upper boundary of its channel pattern, signaling an eagerness among buyers for a more robust recovery. If the coin maintains its position above this newfound resistance level, the upward trend could extend by another 20%, targeting the $0.9 mark and potentially reaching the psychological threshold of $1. 

The widening gap between the MACD and its signal line, currently in a bullish crossover state, indicates a strengthening buyer control over the asset.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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