Ethereum (ETH) Daily Price Forecast – December 31

ETH/USD Medium-term Trend: Ranging

  • Resistance Levels: $240, $250, $280
  • Support Levels: $130, $120, $110

Last week the price of Ethereum was in a sideways trend. On December 28, the crypto’s price was in a bullish trend zone as the price reached the high of $142.15 and commenced a range bound movement below and above the $140 price level. The crypto’s price is likely to rise because it is above the 12-day EMA and the 26-day EMA.

If the bulls break above the $140 price level and sustain hold above it, the crypto will rise to reach the previous low of $150 and $160 price levels. On the downside, if the crypto’s price was resisted after the range bound movement, the ETH will fall to the lows of $130 and $120 price levels.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the crypto’s price was in a sideways trend. The ETH price is above the 12-day EMA and  the 26-day EMA but currently falling and breaking the EMAs to the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. In addition, the Stochastic is at the 20% range indicating that Ethereum is in the bullish momentum.

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

Be the first to comment

Leave a Reply

Your email address will not be published.