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Ethereum (ETH) Price Analysis for December 22

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Fri, 22/12/2023 - 15:48
Ethereum (ETH) Price Analysis for December 22
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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Most of the coins keep rising, according to CoinMarketCap.

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Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) is one of the biggest gainers today, rocketing by 4.56%.

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Image by TradingView

On the hourly chart, the price of ETH has made a false breakout of the resistance level of $2,331. 

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If the daily bar closes far from it, there is a chance to see a further correction to the $2,300 zone tomorrow.

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Image by TradingView

On the bigger time frame, one should pay attention to the candle's closure in terms of the resistance level of $2,392. If that happens near it or above, the upward move may continue to the $2,500 area soon.

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Image by TradingView

From the midterm point of view, closure near $2,400 plays a key role in terms of further growth. If buyers can hold the initiative, the rise may lead to the test of the $2,500-$2,700 zone shortly.

Ethereum is trading at $2,325 at press time.

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