Ethereum Regains Key Support as It Eyes Its Top of $2,400

Ethereum (ETH) Current Statistics
The current price: $2,273.31
Market Capitalization: $273,226,586,794
Trading Volume: $8,647,559,181
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis December 25, 2023
Ethereum’s (ETH) price has remained within its narrow range as it eyes its top of $2,400. Since December 15, the largest altcoin has been rebuffed three times at the $2,300 resistance. If the initial barrier had been crossed, Ether may have resumed its upward trajectory above the $2,400 overhead resistance.

The altcoin will surge to a high of $3,000. Ether is now trading in a limited range between $2,100 and $2,300. If the 21-day SMA is violated and the bearish momentum continues, the altcoin risks decrease. Ether will first fall above the 21-day SMA or $2,100 support level. ETH/USD is now valued at $2,274 at the time of writing.

ETH Technical Indicators Reading
Following the latest downturn, Ether has dropped between the 4-hour moving average lines. The drop has slowed as Ether returns to fluctuating between the moving average lines. On the daily chart, buyers are protecting Ether as the cryptocurrency’s price remains above the 21-day simple moving average.

Conclusion
On the 4-hour chart, Ether struggles to maintain bullish momentum above the $2,300 and $2,400 price levels as it eyes its top of $2,400. Ether is currently recovering after achieving important support at $2,200. The largest altcoin is likely to remain in its current range for a few days.

You can purchase crypto coins here. Buy LBLOCK

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