Ethereum price suffered a correction down to $915 but managed to recover. The digital asset faces only one critical resistance level before the all-time high. Ethereum hit a new three-year high at $1,348 on January 10, 2021, before Bitcoin crashed and took down the market with it. Nonetheless, Ethereum managed to recover up to $1,100 and is currently outperforming Bitcoin. Ethereum price looks poised for a new all-time high Ethereum has defended a critical support level on the daily chart in the form of the 26-EMA which has served as an accurate guide throughout the bull run. Ethereum buyers also managed to push the digital asset above the 12-EMA. ETH/USD daily chart Since December 15, Ethereum price has increased by more than 130%, however, the number of whales holding the digital asset did not decrease. This is a major indication that large holders are willing to buy Ethereum even at higher prices expecting it to rise even more in the near future adding a lot of buying pressure to the digital asset. ETH Holders Distribution chart Furthermore, the number of Ethereum inside exchanges has also dropped since December 2020 despite the rise in prices. This metric indicates that there is less selling pressure overall. ETH Supply on Exchanges chart One of the main reasons for this lack of supply inside exchanges is the Eth2 deposit contract address which has received over 2.42 million ETH at the time of writing worth more than $2.64 billion at current prices. ETH IOMAP chart The In/Out of the Money Around Price (IOMAP) chart shows only one significant resistance area located between $1,160 and $1,194. A breakout above this point can quickly push the digital asset up to the last high of $1,348 and potentially to a new all-time high. However, the IOMAP model also suggests that there is very little support below the $1,080 area. Losing this level could drive Ethereum price down to $900 again. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next NZD/JPY Price Analysis: Bulls on the brink, eyes on a daily 75.40 target FX Street 1 year Ethereum price suffered a correction down to $915 but managed to recover. The digital asset faces only one critical resistance level before the all-time high. Ethereum hit a new three-year high at $1,348 on January 10, 2021, before Bitcoin crashed and took down the market with it. Nonetheless, Ethereum managed to recover up to $1,100 and is currently outperforming Bitcoin. Ethereum price looks poised for a new all-time high Ethereum has defended a critical support level on the daily chart in the form of the 26-EMA which has served as an accurate guide throughout the bull run. Ethereum buyers also… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.