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Price analysis of Ethereum (ETH) – December 24th



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Price analysis of Ethereum (ETH) – December 24th

Ethereum ETH-money-analysis-Dec-24

  • The price of the crypt is expected at the price level of $ 200.
  • The ETH price has exceeded the initial resistance at $ 120 as the price approaches the $ 150 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

On December 17, the price of Ethereum began a bullish movement as the price was fluctuating above the price level of $ 91. The price of the crypt broke the 12-day EMA and the 26-day EMA at the upside. When the price broke the EMA at 26 days and tested the resistance zone at $ 120, the ETH price was rejected. Subsequently, the price of the crypto returned to 26-day EMA support to resume the bullish movement.

From the daily chart, the price of the crypt is making a series of higher highs and higher lows on the uptrend line. The purpose of the trend line is to allow us to determine the duration of the uptrend. It is said that an uptrend is going on when the price checks the trend line without breaking it.

As at the time of writing, the bullish trend is said to be underway. If the price breaks the trend line and the next candle is closed on the contrary, the uptrend would be terminated.

ETHUSD Short-term trend: bullish

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

On the short-term trend, the price of Ethereum is in an uptrend. The price of the crypt has reached the maximum of $ 157.41 as at the time of writing. The price of Ethereum is expected at the price level of $ 200 but will face a price resistance of $ 180. The price of the crypt is rising from its recent high and will probably test the 12-day EMA for resume the uptrend.

If the price of the crypt checks the 12-day EMA or the uptrend is resumed, traders can start long exchanges. Meanwhile, the stochastic bands are in the overbought region above the 80% range. Ethereum is in a strong bullish movement and has a buy signal.

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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