ETH/USD Steps Closer to $3800 Resistance

ETH/USD Steps Closer to $3800 Resistance


Ethereum Price Prediction – December 30

The Ethereum price prediction shows ETH breaking above the $3700 resistance level as the coin faces the upside.

ETH/USD Market

Key Levels:

Resistance levels: $4200, $4400, $4600

Support levels: $3200, $3000, $2800

Ethereum Price Prediction

ETHUSD – Daily Chart

ETH/USD is seen refreshing to a new high after touching the daily low of $3603 when trading yesterday but yet to cross below the lower boundary of the channel. However, the bears may begin to return back into the market but the bulls are likely to collect more on the price dips.

Ethereum Price Prediction: Is Ethereum (ETH) Ready to Push Higher?

The Ethereum price can only begin the uptrend if the bears failed to drag the coin below the lower boundary of the channel. At the moment, the technical indicator Relative Strength index (14) is seen crossing back above 40-level in other to create more bullish signals into the market and this could encourage more buyers to enter the market.

However, if the red line of the 9-day MA crosses above the green line of the 21-day MA, the coin may begin to perform well and the Ethereum price may reach the resistance levels at $4,200, $4,400, and $4,600 respectively. More so, if the technical indicator decides to make a quick turn back below the channel, then, there may be a quick bearish drop which may likely roll the market down to the support levels of $3200, $3000, and $2800 respectively.

When compares with Bitcoin, Ethereum is trading below the 9-day and 21-day moving averages as the price hovers at 7855 SAT. Moreover, the technical indicator Relative Strength Index (14) remains above 40-level as the market price could rise. However, the pair appears to be regaining back its loses as the bulls may step back into the market.

ETHBTC – Daily Chart

Therefore, as seen on the daily chart, the potential resistance level is located at 8400 SAT and above but a lower sustainable move may likely cancel the bullish pattern which could attract new sellers coming into the market with the next focus on the support level of 7400 SAT and below.

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