Ethereum Rebounds Above $4,000, Rises Marginally Upward

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.

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.

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