Price analysis of Ethereum (ETH) – December 21st

Ethereum chart from the view of trading

ETHUSD Medium-term trend: bullish

• Resistance levels: $ 230, $ 240, $ 250
• Support levels: $ 100, $ 90, $ 80

The price of Ethereum is still bullish while the price is close to the resistance level of $ 120. The cryptography had previously broken the 12-day EMA, the 26-day EMA and the resistance level of $ 100 to reach the uptrend zone. The 12-day EMA and the 26-day EMA are pointing north, pointing to an uptrend. The price of the cryptic is close to the price of $ 120, but may be faced with resistance to that price level.

If the bulls are able to overcome the resistance of $ 120, the crypt is likely to reach the maximum of $ 200. On the other hand, if the bulls have resisted the price level of $ 120, the price of Ethereum will find support at $ 110. Meanwhile, the stochastic indicator is approaching the lower range at 80%. This indicates that Ethereum is in a bullish momentum and a buy signal after several weeks in the oversold region.

ETHUSD Short-term trend: bullish

Ethereum chart from the view of trading

On the short-term trend, the price of Ethereum is in an uptrend. The price of Ethereum is making a series of higher highs and higher lows. Exponential moving averages are pointing in the direction of the uptrend. The price of the crypt is attempting to break the price level of $ 120. The stochastic bands are in the overbought region above the 80% range.

The price of Ethereum is now in a strong bullish momentum and a buy signal. The bullish momentum will continue as long as the stochastic bands are in the overbought region.

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