Ethereum Rebounds Above $4,000, Rises Marginally Upward

Updated:

Highlights
Ethereum consolidates above the $4,000 support
The largest altcoin targets level $4,407

Ethereum ETH) Current Statistics
The current price: $4,071.70
Market Capitalization: $484,153,366,999
Trading Volume: $9,651,754,787
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis December 26, 2021
Ethereum is still in a downward correction but rises marginally upward. Ether’s price breaks above the 21-day line moving average. It is consolidating above the $4,000 support for a possible upward move. If buyers push the largest altcoin above the 50-day line moving average, the crypto will resume upside momentum. The market will rise to revisit the previous highs of $4,400 and $4,800. Conversely, if Ether rises and faces rejection at the 50-day line moving average, the coin will be compelled to a range-bound move. Ether price will be fluctuating between the two moving averages.

Ethereum Rebounds above $4,000, Rises Marginally Upward
ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is at level 49 of the Relative Strength Index for period 14. It indicates that there is a balance between supply and demand.
Ether’s price bars are fluctuating above 21-day line SMA but are below the 50-day line SMA indicating a range-bound move. The largest altcoin is above 40% area of the daily stochastic. The bullish momentum is unstable.

Conclusion
Ethereum is trading horizontally but rises marginally upward. The price action is characterized by small body candlesticks. This current price movement will be in a range-bound move. The largest altcoin is facing rejection at $4,154 price level. The uptrend will resume if the recent high is breached. Meanwhile, on December 23 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that Ether will rise to level 2.0 Fibonacci extensions or $4,407 price level.

 Ethereum Rebounds above $4,000, Rises Marginally Upward
ETH/USD – 4 Hour Chart

You can purchase crypto coins here. Buy Tokens


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.