Ethereum price extended losses and dropped below the $3,680 zone. ETH is down over 7% and is showing bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,680 zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it fails to stay above the $3,650 support zone. Ethereum Price Drops Below $3,650 Ethereum price struggled to start a fresh increase above the $3,680 level and extended losses like Bitcoin. ETH gained bearish momentum below the $3,650 level and dived below $3,600. It even dived below $3,550 and spiked below the $3,420 level. A low was formed at $3,324 and the price is now consolidating losses. There is also a key bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD. Ethereum price is now trading below $3,550 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,510 level. It is close to the 23.6% Fib retracement level of the downward move from the $4,105 swing high to the $3,324 low. The first major resistance is near the $3,650 level. There is also a key bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD. The main resistance is now forming near $3,715 or the 50% Fib retracement level of the downward move from the $4,105 swing high to the $3,324 low. A clear move above the $3,715 resistance might send the price toward the $3,800 resistance. An upside break above the $3,800 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,880 resistance zone or even $4,000. More Losses In ETH? If Ethereum fails to clear the $3,650 resistance, it could continue to move down. Initial support on the downside is near the $3,350 level. The first major support sits near the $3,320 zone. A clear move below the $3,320 support might push the price toward the $3,250 support. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,050. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,320 Major Resistance Level – $3,650
Discussions about Ethereum’s next major price rally have emerged significantly within the crypto community following its recent upbeat strength in the past few days. With upside momentum gaining traction, there are speculations that ETH may rally soon. However, a recent development suggests otherwise. Anticipated Major Rally For Ethereum Might Require More Patience Ethereum’s next big […]
Ethereum price started a sharp decline below the $3,880 zone. ETH is down over 5% and is showing bearish signs below the $3,680 level. Ethereum started a fresh decline below the $3,800 zone. The price is trading below $3,680 and the 100-hourly Simple Moving Average. There is a new connecting bearish trend line forming with resistance at $3,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it fails to stay above the $3,550 support zone. Ethereum Price Dives Below $3,800 Ethereum price struggled to stay above the $3,880 level and started a fresh decline like Bitcoin. ETH gained bearish momentum below the $3,800 level and dived below $3,680. It even dived below $3,600 and spiked below the $3,550 level. A low was formed at $3,543 and the price is now consolidating losses. There is also a new connecting bearish trend line forming with resistance at $3,800 on the hourly chart of ETH/USD. Ethereum price is now trading below $3,620 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,670 level. It is close to the 23.6% Fib retracement level of the downward move from the $4,105 swing high to the $3,537 low. The first major resistance is near the $3,800 level or the 50% Fib retracement level of the downward move from the $4,107 swing high to the $3,837 low. The main resistance is now forming near $3,880. A clear move above the $3,880 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,150 resistance zone or even $4,220. More Losses In ETH? If Ethereum fails to clear the $3,680 resistance, it could continue to move down. Initial support on the downside is near the $3,550 level. The first major support sits near the $3,500 zone. A clear move below the $3,500 support might push the price toward the $3,450 support. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,220. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,550 Major Resistance Level – $3,680
Ethereum price failed to settle above the $4,000 zone. ETH is correcting gains and might struggle to stay above the $3,820 support zone. Ethereum started a downside correction from the $4,100 zone. The price is trading below $3,980 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,940 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it fails to stay above the $2,820 support zone. Ethereum Price Fails Again Ethereum price struggled to stay above the $4,000 level and underperformed Bitcoin. ETH started a fresh decline and traded below the $4,000 support zone. There was a move below the $3,980 and $3,940 support levels. Besides, there was a break below a key bullish trend line with support at $3,940 on the hourly chart of ETH/USD. The pair even dipped below the $3,850 level. A low was formed at $3,837 and the price is now consolidating losses. Ethereum price is now trading below $3,920 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,900 level. It is close to the 23.6% Fib retracement level of the downward move from the $4,107 swing high to the $3,837 low. The first major resistance is near the $3,970 level or the 50% Fib retracement level of the downward move from the $4,107 swing high to the $3,837 low. The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,120 resistance. An upside break above the $4,120 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,250 resistance zone or even $4,320. More Losses In ETH? If Ethereum fails to clear the $3,900 resistance, it could continue to move down. Initial support on the downside is near the $3,820 level. The first major support sits near the $3,780 zone. A clear move below the $3,780 support might push the price toward the $3,650 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,820 Major Resistance Level – $3,970
The Ethereum price could face some turbulence, as Justin Sun, the founder of Tron (TRX), has unstaked a whopping $209 million from Lido Finance, a liquid decentralized staking platform for Ethereum. Compared to top cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE), the Ethereum price has had a relatively muted performance, skyrocketing to $4,000 before consolidating and struggling to move higher. With the possibility of more sell-offs, Ethereum could see its price crashing down if Sun decides to dump more coins. Justin Sun Dumps ETH New reports from Spot On Chain, an AI-driven crypto platform, revealed that Sun recently applied to withdraw a staggering 52,905 ETH tokens worth about $209 million from Lido Finance. According to the on-chain data, this massive withdrawal was part of the ETH stash Sun allegedly accumulated between February and August 2024. Spot On Chain has revealed that the total amount of Ethereum Sun bought within this period amounted to 392,474 ETH tokens, valued at $1.19 billion. All of these tokens were purchased via three wallet addresses at an average price of $3,027. Presently, the total profit the Tron founder has acquired since his purchase is up to $349 million, representing a 29% increase from its purchasing price. Interestingly, on October 24, Sun had unstaked a massive 80,251 ETH tokens, worth over $131 million, from Lido Finance. Four days later, he transferred the entire amount to Binance, the world’s largest crypto exchange. This notable move took place just before the price of Ethereum had dropped sharply by 5% in mid-October, which could have resulted in a loss for Sun. Unsurprisingly, this is not the first time Sun has dumped Ethereum. Spot On Chain revealed earlier this month that the Tron Founder had been cashing in his Ethereum holdings during the market rally. In November, Sun deposited 19,000 ETH worth $60.83 million to HTX, a crypto exchange. Additionally, he transferred 29,920 ETH valued at $119.7 million to HTX again after its price surpassed $4,000 over the past week. These are just a few transactions the Tron founder has made with ETH over the past month. Given Sun’s history of large-scale asset movements, further sell-offs could impact the already fragile Ethereum market. Nevertheless, the lingering question remains whether the Tron founder will continue his Ethereum dumping spree. Ethereum Price Crash Ahead? While Sun has not publicly commented on his recent large-scale Ethereum withdrawals, the size and timing of these transactions could pose a problem for the altcoin’s future trajectory. Historically, large ETH liquidations have triggered a price crash due to increasing selling pressures. Related Reading: Time To Sell XRP? Price Completes Head And Shoulder Pattern, Suggesting Crash To $2.2 Is Imminent With the price of Ethereum still unstable and aiming for a stronger upward rally, further large-scale ETH dumps could exacerbate market volatility, especially if other investors or whales follow suit. For now, the price of Ethereum seems to be performing well, recording a more than 7% increase in the last seven days and a 28% surge over the past month, according to CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Ethereum price started a decent increase above the $3,950 zone. ETH is consolidating gains and might aim for a move above the $4,150 resistance zone. Ethereum started a decent increase above $3,950 and $4,000. The price is trading below $3,980 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,940 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $4,080 and $4,120 resistance levels. Ethereum Price Regains Momentum Ethereum price remained stable and extended gains above $3,880 but it underperformed Bitcoin. ETH was able to climb above the $3,980 and $4,000 resistance levels. The bulls pushed the pair above the $4,050 and $4,080 resistance levels. A high was formed at $4,107 before there was a pullback. There was a minor decline below the $4,000 level. The price traded as low as $3,946 and is currently rising. There was a move above the 23.6% Fib retracement level of the downward move from the $4,107 swing high to the $3,946 low. Ethereum price is now trading above $4,000 and the 100-hourly Simple Moving Average. There is also a key bullish trend line forming with support at $3,940 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $4,025 level. The first major resistance is near the $4,070 level or the 76.4% Fib retracement level of the downward move from the $4,107 swing high to the $3,946 low. The main resistance is now forming near $4,120. A clear move above the $4,120 resistance might send the price toward the $4,250 resistance. An upside break above the $4,250 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,350 resistance zone or even $4,500. Downside Correction In ETH? If Ethereum fails to clear the $4,120 resistance, it could start another decline. Initial support on the downside is near the $3,980 level. The first major support sits near the $3,940 zone. A clear move below the $3,940 support might push the price toward the $3,880 support. Any more losses might send the price toward the $3,800 support level in the near term. The next key support sits at $3,750. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,940 Major Resistance Level – $4,120
Ethereum is once again making headlines as it edges closer to the critical $4,100 resistance level. After building steady upward momentum, the bulls seem determined to reclaim control and challenge this key barrier. Historically, this level has acted as a tough hurdle for ETH, but recent price action suggests growing buyer confidence. As ETH edges higher, traders are keenly watching to see if this rally has what it takes to finally break through the resistance and set the stage for further gains. With the stakes high and the momentum growing, the $4,100 level could be the key to Ethereum’s next big move. Will the Bulls rise to the challenge? Ethereum Price Approaches The Crucial $4,100 Resistance Level ETH is currently trading above the 100-day Simple Moving Average (SMA), signaling a bullish trend. Following a strong rebound at $3,670, the cryptocurrency has gained steady upward strength, gradually approaching the $4,100 key resistance level. This positive price action suggests that market sentiment is shifting in favor of the bulls, with increasing buying pressure pushing Ethereum closer to this critical barrier. As the price draws closer to $4,100, traders are watching closely to see if ETH can break through this resistance and sustain its bullish momentum, possibly paving the way for more growth. Related Reading: Ethereum Price Climbs To $4,000 Amid Historic ETF Inflows: Will It Break Previous Records? Furthermore, to support this outlook, the 4-hour Relative Strength Index (RSI) reveals strong positive sentiment for Ethereum. The RSI has risen to 63%, recovering from a previous dip to 53%. Significantly, this upward movement indicates growing buying pressure and reflects a shift toward bullish momentum. As the RSI climbs, it suggests that Ethereum is gaining strength, with potential for further upside. Thus, if ETH continues to stay above key thresholds, the crypto asset could have the strength to push through the $4,100 resistance level. Breaking Above The $4,100 Mark Could Spark ETH’s Next Bull Run A breakout above the $4,100 resistance level may serve as the catalyst for Ethereum’s next bull run, unlocking notable upside potential. This level has long been a critical barrier, representing psychological and technical resistance to ETH. Should the price break above $4,100, it would signal a shift in market dynamics, with the bulls firmly in control and poised to drive Ethereum to the $4,863 resistance level and beyond. Related Reading: Ethereum Breaks Barriers, Targets $6K Amid Record ETF, TVL Activity However, it’s important to note that a failure to break through $4,100 might lead to a pullback, triggering a retreat to lower support levels. A rejection at this key level would raise concerns about the sustainability of Ethereum’s bullish momentum, prompting traders to reassess their positions. Presently, Ethereum is trading at approximately $3,947, with a market capitalization of $475 billion. In the past 24 hours, ETH has seen a strong trading volume of $30 billion, indicating high investor interest and healthy market liquidity as Ethereum nears key resistance levels. Featured image from Unsplash, chart from Tradingview.com
Ethereum price started a decent increase above the $3,900 zone. ETH is consolidating gains and might aim for a move above the $4,000 resistance zone. Ethereum started a decent increase above $3,880 and $3,920. The price is trading below $3,920 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,900 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $3,980 and $4,020 resistance levels. Ethereum Price Faces Resistance Ethereum price remained stable and extended gains above $3,850 but it underperformed Bitcoin. ETH was able to climb above the $3,920 and $3,980 resistance levels. There was a break above a key bearish trend line with resistance at $3,900 on the hourly chart of ETH/USD. The bulls pushed the pair above the $4,000 and $4,010 resistance levels. A high was formed at $4,019 and the price is now consolidating gains. There was a minor decline below the $3,980 level. The price even dipped below the 23.6% Fib retracement level of the upward move from the $3,831 swing low to the $4,019 high. Ethereum price is now trading above $3,880 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $4,000 level. The first major resistance is near the $4,020 level. The main resistance is now forming near $4,050. A clear move above the $4,050 resistance might send the price toward the $4,150 resistance. An upside break above the $4,150 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,250 resistance zone or even $4,320. Another Decline In ETH? If Ethereum fails to clear the $4,000 resistance, it could start another decline. Initial support on the downside is near the $3,920 level and the 50% Fib retracement level of the upward move from the $3,831 swing low to the $4,019 high. The first major support sits near the $3,880 zone. A clear move below the $3,880 support might push the price toward the $3,840 support. Any more losses might send the price toward the $3,750 support level in the near term. The next key support sits at $3,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,920 Major Resistance Level – $4,000
Following a market rebound, Ethereum (ETH) has shown only sideways movement in the past few days as the battle to break beyond the $4,000 price region continues. While investors continue speculating on the asset’s next movement, the recent development of a new support region hints at a continued upward trajectory. Related Reading: Ethereum On-Chain Metrics Looking Strong – Momentum Building For ETH? ETH Bulls Form Strong Support At $3,700 – $3,810 In an X post on December 14, crypto analyst Ali Martinez revealed the formation of a critical support zone in the Ethereum market. Based on data from IntoTheBlock, Martinez shares that 3 million distinct wallets acquired 4.6 million ETH, valued at $17.6 billion, at prices between $3,700-$3,810 with an average market price of $3,751. Such high level of accumulation activity identifies this price range as a significant zone of investor interest. Importantly, this heightened buying pressure converts $3,700-$3,810 to a vital support zone as market bulls will be compelled to defend this price range in the case of a price decline. Furthermore, despite Ethereum’s struggle to make any meaningful breakout past $4,000 so far, investors purchasing massive amounts of ETH at high price levels indicates market confidence in the asset’s ability to move past the presented resistance and sustain its price growth. However, it is worth noting that Ethereum losing this support zone due to an overwhelming bearish sentiment will result in immediate substantial losses that can induce a further price decline. If this market scenario occurs, ETH could slide as low as $3,565, with the next available support level being $3,303. Related Reading: Bitcoin Confidence Grows As Binance Data Highlights Surprising Market Trends Ethereum Records Eight-Month High Network Growth In other developments, the prominent blockchain analytics platform Santiment reports Ethereum is experiencing an impressive level of renewed market interest. In a recent X post, Santiment states that an average of 130,200 new addresses are being created on the Ethereum network each day in December – the highest ever since April. This rise in new wallets suggests an influx of retail and institutional investors as evidenced by multiple developments including Ethereum’s price performance in Q4 2024, a booming DeFi ecosystem as well as the recent bullish performance of the spot Ethereum ETFs. In terms of implications, this rapid network growth can boost network activity, transaction volume, and ETH demand thereby resulting in a further price increase. At the time of writing, Ethereum trades at $3,885 with a decline of 0.99% in the past day. Albeit, this loss only underscores the turbulent past trading week where Ethereum dipped by a cumulative 2.75%. Featured image from Bankrate, chart from Tradingview
The price of Ethereum recorded an overall decline of 2.08% in the past week in line with the general performance of most altcoins. While the prominent cryptocurrency struggles to make any significant breakout past $4,000, certain developments on its underlying network have drawn investors’ attention. Related Reading: Ethereum Price Aims Higher: A Smooth Path To $4,000 and Beyond? Ethereum Weekly Fees Rise By 18% Amid DeFi Ecosystem Boom In a recent report on December 13, crypto analytics company IntoTheBlock stated that weekly Ethereum network fees rose by 17.9% in the past week reaching an estimated $67 million – the highest-ever value since April. According to analysts at IntoTheBlock, these high network fees can be attributed to ETH’s price balancing as Bitcoin retraced to $100,000. In addition, there has been a significant increase in DeFi activity on the Ethereum blockchain. Providing more insight into Ethereum’s vibrant DeFi ecosystem, the Satoshi Club highlights that DeFi lending has been on the rise, with traders leveraging their Wrapped Bitcoin (WBTC) and Wrapped Ethereum (WETH) to borrow stablecoins. These wrapped assets allow users to maximize their collateral utility by tapping into the liquidity and stability of DeFi protocols while maintaining exposure to major cryptocurrencies i.e. Bitcoin and Ethereum. Notably, the demand surge for lending drove interest rates to exceptional levels, now exceeding 10% on average and reaching as high as 40% on certain platforms. Interestingly, these figures mirror the peak dynamics seen in the 2022 bull market. Aave, one of Ethereum’s major DeFi protocols with a TVL of $22.46 billion has been a focal point on this increased DeFi activity, recording an impressive $500 million in net inflows over the last week. While heightened network activity driven by increased DeFi activity can indicate growing interest in the Ethereum network, investors should note that elevated Ethereum fees will pose challenges for smaller users being rewarding only for those who can capitalize on high interest rates. Related Reading: Ethereum Price Preps for Breakout: Will Bulls Drive a Massive Upswing? ETH Price Overview At the time of writing, Ethereum trades at $3,914.08 reflecting a minor loss of 0.22% in the past day. On the other hand, the altcoin is up by 21.39% on its monthly chart representing its stellar performance in the past few weeks As earlier stated, Ethereum’s most immediate resistance is the $4,000 price zone which has offered much opposition to price growth since the start of December. By breaking past this price barrier, Ethereum is likely to surge to $4,900 which represents its current all-time high and next significant price resistance. With a market cap of $471.16 billion, Ethereum remains the second-largest cryptocurrency representing 12.9% of the total digital assets market. Featured image from Empiricus, chart from Tradingview
Ethereum price started a decent increase above the $3,750 zone. ETH is consolidating gains and might aim for a move above the $3,980 resistance zone. Ethereum started a decent increase above $3,750 and $3,800. The price is trading below $3,800 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $3,950 and $3,980 resistance levels. Ethereum Price Outpaces Bitcoin Ethereum price remained stable and extended gains above $3,750 beating Bitcoin. ETH was able to climb above the $3,800 and $3,880 resistance levels. The bulls pushed the pair above the $3,920 and $3,950 resistance levels. A high was formed at $3,988 and the price is now consolidating gains. There was a minor decline below the $3,920 level. The price even dipped below the 23.6% Fib retracement level of the upward move from the $3,527 swing low to the $3,988 high. Ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,840 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $3,950 level. The first major resistance is near the $3,980 level. The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,150 resistance. An upside break above the $4,150 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,250 resistance zone or even $4,320. Another Decline In ETH? If Ethereum fails to clear the $3,980 resistance, it could start another decline. Initial support on the downside is near the $3,840 level and the trend line. The first major support sits near the $3,750 zone or the 50% Fib retracement level of the upward move from the $3,527 swing low to the $3,988 high. A clear move below the $3,750 support might push the price toward the $3,665 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,840 Major Resistance Level – $3,980
Ethereum price started a decent increase above the $3,650 zone. ETH is now rising and might aim for a move above the $3,900 resistance zone. Ethereum started a decent increase above $3,650 and $3,680. The price is trading below $3,750 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $3,720 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it clears the $3,850 and $3,900 resistance levels. Ethereum Price Eyes More Gains Ethereum price remained stable above $3,500 and started a fresh increase like Bitcoin. ETH was able to climb above the $3,650 and $3,720 resistance levels. There was a break above a key bearish trend line with resistance at $3,720 on the hourly chart of ETH/USD. The bulls pushed the pair above the 50% Fib retracement level of the downward wave from the $4,015 swing high to the $3,488 low. The price even spiked above the $3,800 resistance zone. Ethereum price is now trading above $3,750 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,850 level. The first major resistance is near the $3,890 level or the 76.4% Fib retracement level of the downward wave from the $4,015 swing high to the $3,488 low. The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,050 resistance. An upside break above the $4,050 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,150 resistance zone or even $4,220. Another Drop In ETH? If Ethereum fails to clear the $3,890 resistance, it could start another decline. Initial support on the downside is near the $3,800 level. The first major support sits near the $3,750 zone. A clear move below the $3,750 support might push the price toward the $3,650 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,750 Major Resistance Level – $3,890
Amid waning market momentum, Ethereum, the second-largest digital asset, is displaying a notable downswing, falling to multiple support levels. However, with recent developments cited on its chart, the altcoin might witness a major rally that could send ETH to a new all-time high in the upcoming months. Key Breakout To Drive Ethereum’s Next Big Move […]
Ethereum price remained stable above the $3,500 zone. ETH is now consolidating and might aim for a move above the $3,750 resistance zone. Ethereum started a downside correction below $3,780 and $3,750. The price is trading below $3,800 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,740 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,500 support zone. Ethereum Price Holds Support Ethereum price extended losses below the $3,880 zone like Bitcoin. ETH declined below the $3,780 and $3,750 support levels. It even spiked below $3,550. A low was formed at $3,488 and the price is now consolidating losses. It recovered some points above the $3,550 and $3,600 levels. The price already tested the 50% Fib retracement level of the downward move from the $4,015 swing high to the $3,488 low. However, the bears are active below $3,800 and preventing more upsides. Ethereum price is now trading below $3,800 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,750 level. There is also a key bearish trend line forming with resistance at $3,740 on the hourly chart of ETH/USD. The first major resistance is near the $3,815 level or the 61.8% Fib retracement level of the downward move from the $4,015 swing high to the $3,488 low. The main resistance is now forming near $3,880. A clear move above the $3,880 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,150 resistance zone or even $4,220. Another Decline In ETH? If Ethereum fails to clear the $3,750 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,550 zone. A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 support level in the near term. The next key support sits at $3,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,500 Major Resistance Level – $3,750
Ethereum price corrected gains below the $3,880 zone. ETH is now recovering some losses and facing hurdles near the $3,800 resistance zone. Ethereum started a downside correction below $3,880 and $3,800. The price is trading below $3,880 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,815 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,600 support zone. Ethereum Price Dips Further Ethereum price failed to stay above the $4,000 zone and started a downside correction like Bitcoin. ETH declined below the $3,880 and $3,800 support levels. It even spiked below $3,600. A low was formed at $3,488 and the price is now recovering some losses. It climbed above the $3,550 and $3,620 levels. The price surpassed the $3,700 level and tested the 50% Fib retracement level of the downward move from the $4,017 swing high to the $3,488 low. Ethereum price is now trading below $3,880 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,780 level. The first major resistance is near the $3,800 level. There is also a key bearish trend line forming with resistance at $3,815 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the downward move from the $4,017 swing high to the $3,488 low. The main resistance is now forming near $3,880. A clear move above the $3,880 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,050 resistance zone or even $4,120. More Losses In ETH? If Ethereum fails to clear the $3,780 resistance, it could start another decline. Initial support on the downside is near the $3,620 level. The first major support sits near the $3,560 zone. A clear move below the $3,560 support might push the price toward the $3,480 support. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,250. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,620 Major Resistance Level – $3,880
Ethereum is portraying its position as a leader in the crypto market after its recent upward spike to the $4,000 mark, a level not seen for about three years. As ETH challenges resistance points, this notable rally toward the pivotal level has sparked strong confidence about its future performance. Can Ethereum Reach Its Current Peak? […]
Ethereum price corrected gains from the $4,080 resistance zone. ETH is now trading below $4,000 and showing some bearish signs. Ethereum started a downside correction from the $4,093 high. The price is trading above $3,920 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $3,965 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,840 support zone. Ethereum Price Corrects Some Gains Ethereum price remained well-bid above the $3,750 support zone. ETH formed a base and started a fresh increase above $3,920 beating Bitcoin. The bulls were able to push the price above the $4,000 resistance. The price tested the $4,080 resistance. A high was formed at $4,093 and the price started a downside correction. There was a move below the $4,050 and $4,000 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $3,680 swing low to the $4,093 high. Besides, there was a break below a key bullish trend line with support at $3,965 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,920 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,960 level. The first major resistance is near the $3,980 level. The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,080 resistance. An upside break above the $4,080 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,150 resistance zone or even $4,220. More Losses In ETH? If Ethereum fails to clear the $4,000 resistance, it could start another decline. Initial support on the downside is near the $3,920 level. The first major support sits near the $3,880 zone. A clear move below the $3,880 support might push the price toward the $3,840 support. Any more losses might send the price toward the $3,770 support level in the near term. The next key support sits at $3,650. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,920 Major Resistance Level – $3,980
Shortly after surging above $4,000 on December 6, Ethereum (ETH) has sunk into a state of consolidation showing no significant price action over the last day. With growing speculations over the altcoin’s next price movement, CryptoQuant analyst Burak Kesmeci has shared a report that suggests a sustained price rally by Ethereum. Related Reading: Ethereum Price Breakout: Charting The Uncertain Part Of ETH To $18,000 US Election Results Drive Ethereum Active Addresses To 417,000 Following the US elections of November 5, Ethereum, alongside a host of other cryptocurrencies, has experienced massive price gains driven primarily by the emergence of pro-crypto candidate Donald Trump as the US President-elect. According to Burak Kesmeci, the results of the US elections removed much uncertainty around the crypto market while encouraging investment as evidenced by price gains of several tokens. Notably, Ethereum, known as the “Father of altcoins”, has recorded a price growth of 70% since November 5 reaching a local peak of $4,077. As with all price rallies, there is continuous speculation on Ethereum’s ability to maintain its current upward price trajectory. Joining the discourse, Kesmeci has drawn a bullish inference from the asset’s change in active address. The CryptoQuant analyst highlights that during Ethereum’s recent price surge, active addresses on its network increased by 36.26% from 306,000 on November 5, to its current value of 417,000. This development indicates that the price increase of Ethereum was based on an equal rise in organic demand and market interest by investors and blockchain users. In conclusion, Burak Kesmeci states the growth in Ethereum active addresses backs the recent price rally as “healthy and sustainable”. Importantly, it is also a bullish signal that indicates ETH is likely to experience a long-term price surge. Related Reading: Ethereum To Pull A BTC 2021-Like Rally? Analyst Shares Massive Prediction ETH Price Overview According to data from CoinMarketCap, Ethereum trades at $4,006 reflecting a slight loss of 0.54% in the past 24 hours. For long-term investors, the prominent altcoin remains in profit based on gains of 7.36% and 39.31% in the last seven and 30 days, respectively. If ETH breaks upward following its current consolidation, the altcoin will face significant resistance at $4,100. However, moving past this price zone opens a potential pathway to $4,900 which lies around Ethereum’s all-time high at $4,891. Aside from a rise in Ethereum active addresses, other developments continue to contribute to the heightened bullish sentiments around the second-largest cryptocurrency. This includes an increase in the inflows to the Ethereum spot ETFs, as backed by a cumulative total net inflow of $1.41 billion. In addition, the altseason appears to be kicking off with widespread gains tipped to occur in early 2025. Featured image from Forbes, chart from Tradingview
Crypto analyst BallaJi has provided insights into how the Ethereum price breakout could happen and even raised the possibility of ETH reaching $18,000. Ethereum currently boasts a bullish outlook, having recently broken above $4,000 for the first time since March of this year. How The Ethereum Price Could Reach $18,000 In a TradingView post, BallaJi predicted that the Ethereum price could reach $18,000. The crypto analyst explained that based on logarithmic projections, the measured move of this HVF could send Ethereum to the target. He provided a caveat, stating that the price rally to the target might not happen in 2025. Related Reading: Analyst Says Bitcoin Price At $100,000 Is A ‘Dangerous Zone’, Predicts Massive Crash However, he is confident that if this bullish pattern is completed, then the Ethereum price could reach this $18,000 price target later on this decade. A rally to this price target would give Ethereum a market cap of around $2 trillion based on its circulating supply of 120.44 million ETH. Meanwhile, BallaJi highlighted three logarithmic targets on the chart, with $18,000 being the third and last target. The first and second targets are at $3,818 and $6,236 respectively. In an update on the trade setup, the crypto analyst noted that the Ethereum price has reached, broken, and retested the first target at $3,818. With the trade now active, BallaJi provided insights into how the Ethereum price could continue this upward trend using linear measured moves. The accompanying chart he shared showed that the next linear target is at $5,193; a rally to that target would mark a new all-time high (ATH) for ETH, with its current ATH at $4,800. Meanwhile, the next linear target is at $7,299. BallaJi’s chart showed that the Ethereum price should hit these price targets by next year. A rally to the $7,299 target could then pave the way for ETH to reach $18,000, although the analyst already warned that it might not happen in 2025. Countdown To New ATH Has Begun In an X post, crypto analyst Justin Bennett stated that the countdown to a new ATH for the Ethereum price has begun. According to the analyst, ETH could rally quickly above $5,000 as it breaks several levels this week. The analyst’s accompanying chart showed that the quick rally above $5,000 could lead Ethereum to hit $6,300. Related Reading: Dogecoin Price Analysis: Ascending Triangle On 2-Hour Chart Shows DOGE Is Still Very Bullish Crypto analyst Titan of Crypto also predicted that an Ethereum price rally to $5,000 is imminent. He stated that ETH’s market structure mirrors BTC’s from a few weeks ago. He remarked that the $5,000 target is just the minimum as he believes that Ethereum will likely go higher. At the time of writing, the Ethereum price is trading at around $3,980, up almost 3% in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Ethereum price is rising from the $3,650 zone. ETH is gaining pace and might soon aim for a move above the $3,950 resistance zone. Ethereum remained in a positive zone and stayed above the $3,680 zone. The price is trading above $3,770 and the 100-hourly Simple Moving Average. There was a break above a short-term bearish trend line with resistance at $3,870 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $3,890 resistance zone. Ethereum Price Eyes More Upsides Ethereum price remained well-bid above the $3,670 support zone. ETH formed a base and recently started a fresh increase above $3,720 beating Bitcoin. The bulls were able to push the price above the $3,780 resistance. There was a clear move above the 50% Fib retracement level of the downward move from the $3,956 swing high to the $3,680 low. Besides, there was a break above a short-term bearish trend line with resistance at $3,870 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,780 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,890 level. It is near the 76.4% Fib retracement level of the downward move from the $3,956 swing high to the $3,680 low. The first major resistance is near the $3,950 level. The main resistance is now forming near $3,980. A clear move above the $3,980 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,050 resistance zone or even $4,120. Another Pullback In ETH? If Ethereum fails to clear the $3,890 resistance, it could start another decline. Initial support on the downside is near the $3,820 level. The first major support sits near the $3,775 zone. A clear move below the $3,775 support might push the price toward the $3,720 support. Any more losses might send the price toward the $3,650 support level in the near term. The next key support sits at $3,620. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,775 Major Resistance Level – $3,890
The Ethereum price has returned above the $3,800 price level on the back of a 5% increase in the past 24 hours. Interestingly, this Ethereum price increase has come amidst a simultaneous increase in the performance of ETH against BTC in recent weeks. According to crypto analyst Benjamin Cowen, this recent price action might actually be the earliest stages of Ethereum’s price increase against Bitcoin within the next six to 12 months. Analysing The ETH/BTC Pair The last two weeks were highlighted by a consolidation of the Bitcoin price below the $99,000 price level as investors continued to await a break above $100,000. Amidst this Bitcoin price correction, the Ethereum price kickstarted a notable increase from the $3,340 level on November 26. This rally allowed Ethereum and many other altcoins to outperform Bitcoin, leading to speculation about whether the crypto market is now in the initial phases of a long-awaited altcoin season. Related Reading: Bitcoin Price To $100,000: Why Reclaiming The $96,400 Level Is Very Important For Another Rally According to technical analysis from popular crypto analyst Benjamin Cowen, this might be the earliest recovery stage for the ETH/BTC pair. Taking to social media platform X, Cowen remarked that the ETH/BTC pair recently bottomed out at 0.03187, which aligns closely with his previously forecasted worst-case scenario of 0.03. Back in 2023, Cowen had predicted a substantial decline in the ETH/BTC pair. Back then, the ETH/BTC pair was trading around 0.066, but he predicted that it could drop by over 45% at that point. Interestingly, this prediction has materialized as Ethereum’s valuation relative to Bitcoin has been on a decline since the last quarter of 2023 up until recent weeks. Fast forward to December 2024; Ethereum has rebounded and is performing well against Bitcoin. Particularly, the ETH/BTC pair is currently around 0.0396, up 24% from a 2024 low of 0.03187. This resurgence prompted Cowen to re-examine the ETH/BTC pair, and his outlook has turned positive. Historical Trends Suggest A Seasonal Rebound Cowen highlighted Ethereum’s historical tendencies, noting that the ETH/BTC pair often gains momentum in December or January. If this trend holds and the ETH/BTC pair gains momentum in December, Ethereum may already be in the early stages of recovery. However, if it was to wait until January, a sweep of prior lows at 0.03187 and possibly 0.03 remains possible but increasingly unlikely. He added that within a few months, the exact bottom might become irrelevant. Related Reading: Dogecoin Price Continues Trading Sideways But Bullish Pennant Says Get Ready For $1.30 Looking ahead, Cowen projected a 6-12 month horizon for significant gains in the ETH/BTC pair. Such a move would be highlighted by the Ethereum price outperforming the Bitcoin price and a full altcoin season. At the time of writing, Ethereum is trading at $3,845. Bitcoin, on the other hand, has finally broken above the $100,000 mark and is currently trading at $103,000. The ETH/BTC pair is currently trading at 0.03755. Featured image created with Dall.E, chart from Tradingview.com
Ethereum (ETH) appears to be finally waking up from its slumber as the second-largest cryptocurrency by market cap has jumped 8% in the past 24 hours, surpassing the key $3,800 price level. Is An ETH God Candle On The Horizon? Ethereum’s rise appears to align with declining Bitcoin (BTC) dominance. This important metric is tracked to gauge the proportion of the total crypto market cap commanded by the top cryptocurrency. Related Reading: Ethereum Jumps 10% As DeFi Sentiment Rebounds With Trump’s Victory According to the chart below, BTC dominance has been falling dramatically over the past two weeks – sliding from 61.1% on November 20 to 54.9% at the time of writing. As previously reported, trading firm QCP Capital highlighted BTC dominance sliding below 58% as a key condition that could signal the onset of the altcoin season. With ETH now surpassing the $3,800 level, analysts are weighing in on how far the digital asset can rally. Crypto analyst @venturefounder shared his target for ETH on X, pointing to a prolonged cup-and-handle pattern forming for ETH since November 2021. He noted that if ETH decisively breaks $3,800, it could climb as high as $7,346. Similarly, crypto analyst Ali Martinez shared his insights on ETH’s recent price action. Martinez emphasized that the $3,300 support level could be a ‘potential buying opportunity’ should the digital asset pullback from its recent surge. Martinez added that his mid-term target for ETH remains $6,000, while the long-term target is $10,000. The analyst also highlighted the Ethereum network’s steady growth over the past month, with more than 134,000 new Ethereum addresses added daily. Another crypto enthusiast, @MisterSpread noted that if ETH breaks the $4,000 area, there is a “high chance we see a God candle to $5,000.” Indeed, ETH breaking out of a three-year long downtrend and attempting to establish a new all-time high (ATH) has piqued the attention of the entire crypto industry. Ethereum Fundamentals Continue Getting Stronger Although BTC has led much of the current crypto rally, experts believe Ethereum might be the time to shine due to the multiple positive developments in the top smart contract platform. For instance, Ethereum exchange-traded funds (ETF) are finally attracting large daily inflows, rivaling BTC ETFs consistently. Further, several proposed network upgrades – including the Ethereum Improvement Proposal-7781 and the possibility of reduction in the amount of ETH required to participate in network staking could serve as catalysts for ETH to hit a new ATH. That said, concerns remain about ETH’s ‘ultrasound money’ narrative due to the inflation surge witnessed in the cryptocurrency’s issuance rate. ETH trades at $3,820 at press time, up 8 % in the past 24 hours. Featured image from Unsplash, Charts from X.com and Tradingview.com
Ethereum price is rising from the $3,550 zone. ETH is showing bullish signs and might soon aim for a move above the $3,920 resistance zone. Ethereum remained in a positive zone and stayed above the $3,650 zone. The price is trading above $3,750 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $3,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to rise if it clears the $3,880 resistance zone. Ethereum Price Starts Fresh Increase Ethereum price remained well-bid above the $3,650 support zone. ETH formed a base and recently started a fresh increase above $3,700 like Bitcoin. The bulls were able to push the price above the $3,800 resistance. A high was formed at $3,895 and the price is now showing many positive signs. It is stable above the 23.6% Fib retracement level of the upward move from the $3,505 swing low to the $3,895 high. There is also a key bullish trend line forming with support at $3,800 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,750 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,895 level. The first major resistance is near the $3,920 level. The main resistance is now forming near $3,950. A clear move above the $3,950 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,050 resistance zone or even $4,120. Another Drop In ETH? If Ethereum fails to clear the $3,920 resistance, it could start another decline. Initial support on the downside is near the $3,800 level. The first major support sits near the $3,750 zone. A clear move below the $3,750 support might push the price toward the $3,700 support or the 50% Fib retracement level of the upward move from the $3,505 swing low to the $3,895 high. Any more losses might send the price toward the $3,650 support level in the near term. The next key support sits at $3,600. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,700 Major Resistance Level – $3,920
Crypto analysts have revealed that the Ethereum price is about to confirm a golden cross on the daily time frame. This provides a bullish outlook for Ethereum, as it enjoyed a parabolic rally the last time this happened. Ethereum Price To Confirm Golden Cross, What Next? In an X post, crypto analyst Tony Severino mentioned that the Ethereum price is heading to a golden cross this week. This golden cross occurs when a short-term moving average (MA), like the 50-day MA, crosses a long-term MA, like the 200-day MA. This typically indicates that the crypto in question is set to enjoy a long-term upward trend. Related Reading: Analyst Says Dogecoin Price At $1.3-$1.5 Is Still Possible, Here’s Why Crypto analyst Charting Guy also confirmed this development for the Ethereum price and provided insights into what happened the last time Ethereum witnessed this golden cross. In an X post, the crypto analyst shared a chart that showed what happened combined with the fractal from that time. Coincidentally, the last time the Ethereum price confirmed this golden cross on the daily timeframe was between November and December last year. Following the Golden Cross, Ethereum rallied from around $1,800 last year to a local top of around $3,600 in March earlier this year. If history were to repeat itself, the Ethereum price could again witness such a sustained upward trend into the new year. Charting Guy’s accompanying chart showed that Ethereum could rally to as high as $8,000 sometime between March and May next year. Ethereum is already showing signs of an upward momentum, having rallied these last few days while Bitcoin consolidates. The Ethereum price has already reclaimed the local top of $3,600 from earlier in the year. Meanwhile, Blockchain Center data shows that it is already altcoin season. This is when Ethereum and other altcoins record significant gains while Bitcoin’s dominance cools off. For context, over 75% of the top 50 crypto have outperformed BTC in the last 90 days. Breakout And Then Moon In an X post, crypto analyst Titan of Crypto suggested that an Ethereum price breakout was imminent. He stated that once ETH escapes the 3-year symmetrical triangle, it will rally to new heights. The analyst’s accompanying chart showed that Ethereum could surpass its current all-time high (ATH) at $4,800 and rally as high as $7,000. Related Reading: Cardano Next In Line After XRP? ADA Price Targets $4.88 In Epic Breakout Crypto analyst Venture Founder also made a similar $7,000 prediction for the Ethereum price. This came as he highlighted a giant cup and handle triangle that has been forming for Ethereum since 2021. The analyst added that ETH could explode once it confirms the breakout above the $3,800 range. At the time of writing, the Ethereum price is trading at around $3,670, up in the last 24 hours, according to data from CoinMarketCap. Featured image created with Dall.E, chart from Tradingview.com
Ethereum price is recovering higher from the $3,500 zone. ETH is showing bullish signs and might soon aim for a move above the $3,700 resistance zone. Ethereum remained in a positive zone and stayed above the $3,500 zone. The price is trading above $3,620 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $3,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could restart its increase if it clears the $3,700 zone. Ethereum Price Makes Fresh Increase Ethereum price failed to clear the $3,680 resistance zone and corrected some gains like Bitcoin. ETH declined below the $3,600 and $3,550 support levels. It even retested the $3,500 support level. A low was formed at $3,505 and the price is now attempting a fresh increase. There was a move above the $3,600 and $3,620 levels. The price cleared the 50% Fib retracement level of the downward move from the $3,760 swing high to the $3,505 low. Besides, there was a break above a connecting bearish trend line with resistance at $3,600 on the hourly chart of ETH/USD. Ethereum price is now trading above $3,600 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,680 level. The first major resistance is near the $3,700 level or the 76.4% Fib retracement level of the downward move from the $3,760 swing high to the $3,505 low. The main resistance is now forming near $3,750. A clear move above the $3,750 resistance might send the price toward the $3,880 resistance. An upside break above the $3,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,000 resistance zone or even $4,120. Another Drop In ETH? If Ethereum fails to clear the $3,700 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,550 zone. A clear move below the $3,550 support might push the price toward the $3,500 support. Any more losses might send the price toward the $3,420 support level in the near term. The next key support sits at $3,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,600 Major Resistance Level – $3,700
Ethereum price is moving higher from the $3,550 zone. ETH is showing bullish signs and might soon aim for a move above the $3,680 resistance zone. Ethereum started a downside correction and retested the $3,550 zone. The price is trading above $3,600 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD (data feed via Kraken). The pair could restart its increase if it clears the $3,650 zone. Ethereum Price Eyes Fresh Upward Move Ethereum price failed to clear the $3,800 resistance zone and corrected some gains like Bitcoin. ETH declined below the $3,650 and $3,600 support levels. It even retested the $3,550 support level. A low was formed at $3,557 and the price is now attempting a fresh increase. There was a move above the $3,600 and $3,620 levels. The price tested the 50% Fib retracement level of the downward move from the $3,762 swing high to the $3,557 low. Ethereum price is now trading above $3,600 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,650 level. There is also a connecting bearish trend line forming with resistance at $3,650 on the hourly chart of ETH/USD. The first major resistance is near the $3,685 level or the 61.8% Fib retracement level of the downward move from the $3,762 swing high to the $3,557 low. The main resistance is now forming near $3,750. A clear move above the $3,750 resistance might send the price toward the $3,800 resistance. An upside break above the $3,800 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,880 resistance zone or even $3,920. Another Slide In ETH? If Ethereum fails to clear the $3,650 resistance, it could start another decline. Initial support on the downside is near the $3,600 level. The first major support sits near the $3,580 zone. A clear move below the $3,580 support might push the price toward the $3,550 support. Any more losses might send the price toward the $3,440 support level in the near term. The next key support sits at $3,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,550 Major Resistance Level – $3,685
Analysts said that two of the biggest cryptocurrencies in the world are riding on the waves of positive sentiments as the exchange-traded funds of Bitcoin and Ethereum reached record highs. The pro-cryptocurrency stance of US President-elect Donald Trump continues to fuel the positive outlook, propelling BTC and ETH to attain unprecedented levels. Related Reading: Operation […]
Ethereum price is moving higher above the $3,600 zone. ETH is showing bullish signs and might soon aim for a move above the $3,800 resistance zone. Ethereum started a decent increase from the $3,550 zone. The price is trading above $3,550 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,700 on the hourly chart of ETH/USD (data feed via Kraken). The pair could restart its increase if it clears the $3,750 zone. Ethereum Price Eyes Steady Increase Ethereum price remained supported above $3,350 and started a fresh increase like Bitcoin. ETH was able to surpass the $3,450 and $3,550 resistance levels. The bulls pumped the price above the $3,700 level. A high was formed at $3,748 and the price is now consolidating gains. There was a minor decline below the $3,720 level. The price dipped and tested the 23.6% Fib retracement level of the upward wave from the $3,572 swing low to the $3,748 high. Ethereum price is now trading above $3,550 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $3,700 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $3,740 level. The first major resistance is near the $3,750 level. The main resistance is now forming near $3,800. A clear move above the $3,800 resistance might send the price toward the $3,880 resistance. An upside break above the $3,880 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,940 resistance zone or even $4,000. Downside Correction In ETH? If Ethereum fails to clear the $3,750 resistance, it could start another decline. Initial support on the downside is near the $3,700 level. The first major support sits near the $3,675 zone. A clear move below the $3,675 support might push the price toward the 61.8% Fib retracement level of the upward wave from the $3,572 swing low to the $3,748 high at $3,640. Any more losses might send the price toward the $3,570 support level in the near term. The next key support sits at $3,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,700 Major Resistance Level – $3,750
Ethereum is grappling with a critical resistance level at $3,659 as momentum appears to wane. After a period of steady gains, the cryptocurrency has moved into a consolidation phase, with bulls struggling to push it higher. The pause has raised questions about whether Ethereum’s rally is losing steam or simply gearing up for its next big move. This article aims to analyze ETH’s current consolidation below the $3,659 resistance level, focusing on its implications for market pressure. It will also determine whether ETH can regain its upsurge or if fading strength could lead to further declines through technical indicators, support zones, and potential breakout scenarios. What Key Indicators Say About Ethereum’s Price ETH is displaying strong bearish momentum on the 4-hour chart, with its price attempting a move toward the $3,360 level and the crucial 100-day Simple Moving Average (SMA). This key level could act as dynamic support, determining the next move. A rebound may follow a successful defense, while a break below could lead to more drops and test lower support zones. An analysis of the 4-hour chart shows that ETH’s Relative Strength Index (RSI) has dropped to 56%, down from the overbought zone. This decline signals a reduction in buying pressure, suggesting a possible shift in market sentiment. As the RSI pulls back, it indicates that bullish sentiment may be fading, and the market could be heading for consolidation or reversal. If the RSI continues to fall, it would confirm increasing selling pressure, potentially leading to deeper corrections. Related Reading: Ethereum Price Strengthens Base: A Springboard for More Gains? Despite staying above the daily 100-day SMA, Ethereum is showing bearish signs, with its price steadily declining toward the $3,360 level. While the 100-day SMA offers some support, the downward movement implies that selling pressure is dominant, weakening the bullish momentum. A continued decline could test the strength of the $3,360 support, and a break below it might lead to further losses, signaling a deeper market pullback. Finally, the 1-day RSI indicates growing negative pressure on ETH since the signal line fell back to 65%, aiming to move toward the 50% threshold. As the RSI continues to drop toward this threshold, it shows that sellers are gaining dominance, possibly paving the way for additional declines unless buying pressure can return to shift the sentiment. Will Ethereum Find New Support Or Sink Further? A key level to monitor is $3,360, which has historically served as a strong support zone. If Ethereum can hold above this level, it could trigger a rebound, pushing the price toward the next resistance at the $3,659 mark. Related Reading: Ethereum Momentum Builds: 10% Surge Sparks ATH Hopes However, should the price fail to maintain above $3,360, ETH may experience a notable downswing, with $3,051 emerging as the next key support range. A break below this support may open the door to additional downward movement, targeting even lower support zones. Featured image from Unsplash, chart from Tradingview.com
Ethereum price is holding gains above the $3,500 zone. ETH is consolidating and might soon aim for a move above the $3,600 resistance zone. Ethereum started a downside correction from the $3,685 zone. The price is trading above $3,520 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could restart its increase if it clears the $3,600 zone. Ethereum Price Eyes Fresh Surge Ethereum price remained supported above $3,250 and started a fresh increase beating Bitcoin. ETH was able to surpass the $3,500 and $3,550 resistance levels. The bulls pumped the price above the $3,650 level. A high was formed at $3,688 and the price recently corrected some gains. There was a minor decline below the $3,650 and $3,620 levels. The price dipped below the 23.6% Fib retracement level of the upward wave from the $3,255 swing low to the $3,688 high. Ethereum price is now trading above $3,520 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,600 level. There is also a connecting bearish trend line forming with resistance at $3,600 on the hourly chart of ETH/USD. The first major resistance is near the $3,650 level. The main resistance is now forming near $3,680. A clear move above the $3,680 resistance might send the price toward the $3,750 resistance. An upside break above the $3,750 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,880 resistance zone or even $3,920. More Losses In ETH? If Ethereum fails to clear the $3,650 resistance, it could start another decline. Initial support on the downside is near the $3,540 level. The first major support sits near the $3,500 zone. A clear move below the $3,500 support might push the price toward the 50% Fib retracement level of the upward move from the $3,254 swing low to the $3,688 high at $3,470. Any more losses might send the price toward the $3,400 support level in the near term. The next key support sits at $3,350. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $3,540 Major Resistance Level – $3,650