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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

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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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