Ethereum (ETHUSD) Price Regains Its Upward Stability

Ethereum (ETHUSD) Price Forecast: December 10

Amid the recent crypto market crash, the ETHUSD pair has regained upward momentum and remains strong above the supply trend line. However, the coin has the potential to rise further under the current trend. The token price is edging closer to the overhead resistance; therefore, sustainability above the $3,241 prior high would render any intended bearish move invalid. As a result, the coin might further climb to the $3,250 upper resistance level and beyond, reflecting vibrant engagement and market trends.

Key Levels:
Resistance Levels: $3,240, $3,241, $3,242
Support Levels:    $2,712, $2,711, $2,710

ETH (USD) Long-term Trend: Bullish (4H Chart)

The bulls’ pressure on the Ethereum market has contributed to its upward trend and remains attractive for buyers on the higher time frames.
The crypto price remains firm above the supply levels due to increasing order flow by the bulls.

Buyers pushed the ETHUSD price to a $3,219 resistance level above the EMA-50 as the 4-hourly session resumes today, resulting in intraday gains for coin investors.

Following a wider market rebound, the price has recently demonstrated a consistent upward trajectory.

Consequently, the token price may rise beyond the prior barrier of $3,241 if the bulls increase their buying pressure, suggesting strong buyer conviction.

Notably, the technical indicator moving upward affirms that Ethereum has more upside potential.

Given this, the bullish pattern may surge to an upper resistance level of $3,250 in the days ahead as the northward voyage continues.

ETH (USD) Medium-term Trend: Bullish (1H Chart)

The ETHUSD pair is bullish. The price is above the moving average, approaching the overhead resistance on the medium-term outlook. This shows that buyers are currently gaining more strength in the market.
The strong push by bulls to the $3,155 supply level in the past session has contributed to its bullishness lately.

An additional buying pressure pushed the price of Ethereum above the critical $3,129 resistance level above the EMA-50.

This, however, will give the buy traders the tendency to further ladder up the trend. Hence, to push the crypto price further, more buyers’ participation is a prerequisite.

Nevertheless, there is a chance that the price of ETHUSD will rise even more if the buyers increase their price actions and all the current support level holds, a psychological key level at the $3,250 upper high level might be reached in a few days as it regains and maintains its upward stability in its medium-term time frame.

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