Ethereum Technical Analysis for January 9

Recently, Bitcoin experienced a rally followed by a correction, and it is now supported near the lower band of the Bollinger Bands. Interestingly, the price has not yet effectively broken below the previous low of 3010, indicating strong bottom support.

From the 4-hour chart, the KDJ indicator has rebounded from the oversold area, with all three lines forming a golden cross at the low levels, which is often a sign that the short-term trend may reverse. Looking at the volume, during this decline, trading volume significantly decreased, indicating that the bearish momentum is weakening while the bulls are accumulating strength.

Based on this situation, on Friday evening, you might consider going long on Ethereum within the 3050-3070 range, with a target around 3180.