Ethereum Stabilizes Above $3,300 but Faces Potential Declines

Ethereum (ETH) Current Statistics

The current price: $3,335.91
Market Capitalization: $401,502,824,529.8
Trading Volume: $22,417,975,958.33
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis December 28, 2024

Ethereum’s (ETH) price has remained range-bound but faces potential declines. The 50-day SMA has slowed rising movements. However, Ether will resume a positive trend if buyers maintain the price above the 21-day SMA. This will cause Ether to rise to its previous high of $4,094. Ether is projected to fall further because of its current bearish trend.

On the downside, if the bears breach the $3,200 support, Ether will fall to a low of $3,000. Later, the bearish momentum will continue to the low of $2,850. Meanwhile, Ether is steadily rising above its present support as it approaches the 50-day SMA resistance.

ETH Technical Indicators Reading

The 21-day SMA and 50-day SMA are dipping downward, indicating selling pressure. However, the price bars face resistance from the 50-day SMA. On the 4-hour chart, the moving average lines are sloping horizontally, indicating a current sideways trend. The price bars are consolidating above the $3300 support as the Doji candlestick forms.

Conclusion

The 4-hour chart shows Ether trading between the $3,200 support and the $3,500 resistance but faces potential declines. Currently, the altcoin is stabilizing above the $3,000 support level but below the moving average lines. The price movement has been static as the altcoin strives to ascend to the upside. The crypto signal is negative, with Ether prices falling to a low of $3,000.

Make money without lifting your fingers: Start using a world-class auto trading solution.

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 results.