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Ethereum (ETH) Price Analysis for December 12

Mon, 12/12/2022 - 21:00
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Denys Serhiichuk
Can one expect rise of Ethereum (ETH) this week?
Ethereum (ETH) Price Analysis for December 12
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls could not hold the weekend's bounce back of the market as the rates of the coins are falling.

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Ethereum (ETH) is feeling worse than Bitcoin (BTC), declining by 1.36%.

ETH/USD chart by TradingView

Despite the decline, the price of Ethereum (ETH) is rising on the hourly chart after the false breakout of the support level at $1,241.70. At the moment, the rate is located close to the resistance at $1,257.30. If a breakout occurs, there is a good chance to see the test of the $1,265-$1,270 area shortly.

ETH/USD chart by TradingView

On the bigger time frame, the situation is unclear as Ethereum (ETH) keeps locating in a narrow range. This means that the accumulated strength is not enough for a further move. Traders can consider a short-term rise only if the rate fixes above the important $1,300 mark.

ETH/BTC chart by TradingView

A similar pattern can be seen on the daily time frame against Bitcoin (BTC), as neither bulls nor bears are dominating at the moment. The rise may start only in case of fixation above the resistance level at 0.076133.

Ethereum is trading at $1,254 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at