Ethereum Price Prediction – December 19
The Ethereum price prediction is down at 1.57% at the time of writing as the coin goes below the opening price of $3961.
Resistance levels: $4200, $4400, $4600
Support levels: $3600, $3400, $3200
ETH/USD breaks below $3900 after an unsuccessful attempt to settle above the 9-day moving average during the European session. At the time of writing, the Ethereum (ETH) is changing hands at $3899, down 1.57% after touching the daily high of $4039. For the past few days, bears have so far been keeping the market price below the 9-day and 21-day moving averages; hoping to touch the potential $4100 resistance level.
Ethereum Price Prediction: Can Ethereum Price Spike Above $4200?
According to the daily chart, a break above the resistance level of $4100 could most likely give the Ethereum price a boost towards the important resistance at $4200, $4400, and $4600 levels. On the downside, the technical indicator Relative Strength index (14) has a bearish feel but currently moving below 45-level. However, the first support lies at $3800 this is if the $3900 level failed to hold in the session after opening today.
Meanwhile, if the coin dives below the lower boundary of the channel, the Ethereum price could visit more downwards. Nevertheless, the market price may keep ranging if the technical indicator RSI (14) signal line continues to move in the same direction. On the other hand, the critical support levels could be located at $3600, $3400, and $3200 which are below the lower boundary of the channel.
When compares with Bitcoin, the bears are making effort to step back into the market while the coin is showing some negative signs that could make lower lows if the price moves below the 9-day and 21-day moving averages. On the downside, the nearest level of support lies at 7800 SAT and below.
Moreover, when looking from the upside, the nearest resistance level is around 8500 SAT and above this, further resistance lies at 9000 SAT and above. The technical indicator Relative Strength Index (14) is moving below 60-level which indicates that more bearish signals may come into play.
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