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Ethereum (ETH) Price Analysis for December 14

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Wed, 14/12/2022 - 15:49
Ethereum (ETH) Price Analysis for December 14
Cover image via www.tradingview.com

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Bears are back in the game after slight recent growth.

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ETH/USD

Ethereum (ETH) could not follow the slight growth of Bitcoin (BTC), falling by 0.53%.

ETH/USD chart by TradingView

Despite the fall, the price of Ethereum (ETH) has made a false breakout of the support level at $1,317.10. However, the rise has been stopped at the local resistance level of $1,332.80.

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If the daily candle closes near that mark, the upward move might continue tomorrow.

ETH/USD chart by TradingView

On the daily time frame, Ethereum (ETH) confirmed the test of the $1,350 level yesterday. At the moment, traders should pay attention to it, as its possible breakout might be the start of a midterm rise as enough energy has been accumulated for such a move.

ETH/BTC chart by TradingView

The volatility keeps declining on the chart against Bitcoin (BTC), as the price has not decided yet which way to go. The resistance at 0.076133 remains a level of great importance; however, buyers need more time to get stronger if they want to seize the initiative.

Ethereum is trading at $1,328 at press time.

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