Ethereum Price Prediction for Today, December 25 – ETH Technical Analysis
Release: 2024/12/26 05:59 Reading: 858
Ethereum Price Prediction
The Ethereum price prediction indicates a potential downside breakout as it trades at $3,471.47.
Ethereum Prediction Data
- Ethereum price: $3,471.47
- Market cap: $418.19 billion
- Circulating supply: 120.46 million
- Total supply: 120.46 million
- Coinmarketcap ranking: #2
Ethereum Overview
Since its inception, Ethereum has skyrocketed from its all-time low of $0.4209 in October 2015, demonstrating the rewards of early adoption in the crypto space. As a pioneer in the blockchain ecosystem, it drives innovations such as decentralized applications and smart contracts, inspiring investors and shaping the future of cryptocurrency.
ETH/USD Market
Key Levels:
- Resistance: $4100, $4200, $4300
- Support: $2800, $2700, $2600
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ETH/USD Daily Chart
Ethereum currently trades around $3471.47, facing a bearish trend. It hovers within the 9-day and 21-day moving averages, signaling potential upward momentum.
Ethereum Price Prediction: Potential Break Below Moving Averages
Technical analysis suggests a critical support zone between $3400 and $3200, reinforced by the 9-day MA and psychological importance of $3,000. The resistance level at $3500 – $3700 is pivotal, and a drop below this range has introduced bearish bias.
Current indicators suggest a bearish outlook, with Ethereum struggling to regain momentum. Until it breaks above $3,500, it faces pressure with a potential retest of the $2,900 – $3,050 support zone. Consolidation or a downward move is likely.
On the upside, a close above the MAs could reach resistance levels of $4100, $4200, and $4300. On the downside, the coin may drop below $2800, $2700, and $2600.
ETH/BTC Facing Downside
The ETH/BTC daily chart indicates a descending channel pattern, suggesting a continued downtrend. The price trades below the 21-day moving average, with the 9-day MA acting as resistance. A breakout above 4000 SAT could signal a bullish reversal.
src="/uploads/20241226/1735167614676c8e7e91a56.png">
ETH/BTC Daily Chart
Support remains at 3000 SAT, while a breakdown below could intensify bearish pressure. Reduced trading volume points to potential consolidation before a significant breakout or breakdown.
Alternatives to Ethereum
For Ethereum to recover, it needs to reclaim $3,500, restoring the daily uptrend. However, the current market environment and lack of strong fundamentals make this unlikely in the short term.
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