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Price analysis of Ethereum (ETH) – 31 December



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Price analysis of Ethereum (ETH) – 31 December

Ethereum ETH-money-analysis-Dec-31

  • The ETH price is in a bullish momentum in the short and medium term trend.
  • Encryption is likely to reach a maximum of $ 145 and a level of $ 150 if the bulls are above the $ 140 level.

Ethereum, ETHUSD, CryptoCompare chartEthereum chart from the view of trading

ETHUSD Medium-term trend: bullish

  • Resistance levels: $ 230, $ 240, $ 250
  • Support levels: $ 130, $ 120, $ 100

Last week, the price of Ethereum was in the uptrend zone. On 24 December, the price of the crypt reached a maximum of $ 163.50, but the price returned to a low of $ 142.53. On 27 December, the price of the crypt dropped to a minimum of $ 118.57 and started a bullish movement. In the uptrend zone, the 12-day EMA and the 26-day EMA acted as support for the price of Ethereum.

The price of the crypt has a tendency to increase because the price is higher than the EMA. The price of Ethereum is currently trading at $ 139.51 price level. If the bulls break the $ 140 level, the crypt will probably hit the highs of $ 145 and the $ 150 levels. On the downside, if the bulls can not break the price of $ 140, the crypt will find support for the price level of $ 120.

Meanwhile, the Stochastic is approaching the overbought region near the 80% range, indicating that Ethereum has a strong bullish momentum and a buy signal.

ETHUSD Short-term trend: bullish

Ethereum, ETHUSD, CryptoCompare chartEthereum chart from the view of trading

On the 4-hour chart, the price of Ethereum is in a downward trend. Last week, the price of Ethereum reached a maximum of $ 140.50 and started a movement linked to the EMA. The price of the crypto is higher than the 12-day EMA and the 26-day EMA indicates that the price is likely to rise. If the price of the crypt breaks below the downward EMA, it is likely that the ETH price decreases.

The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.


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