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Ethereum (ETH) Price Analysis for December 23

Fri, 12/23/2022 - 20:00
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Denys Serhiichuk
How great are chances for continued rise of Ethereum (ETH)?
Ethereum (ETH) Price Analysis for December 23
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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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By the end of the week, most of the coins are in the green zone, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap


Ethereum (ETH) is one of the biggest gainers today, rising by 2.27% over the past 24 hours.

ETH/USD chart by TradingView

On the local time frame, Ethereum (ETH) is trading in a narrow range, between the support at $1,213 and the resistance at $1,229.

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At the moment, the price is on its way to the upper level, which means there is a possibility to see a breakout tomorrow.

ETH/USD chart by TradingView

On the bigger chart, traders should pay close attention to the recently formed resistance level at $1,230.20. If the candle closes around it, the accumulated energy might be enough for a move to the $,1280 zone. Thus, the buying volume has started to rise, which indicates buyers' strength.

ETH/BTC chart by TradingView

Analyzing the chart against Bitcoin (BTC), the situation remains unclear as the rate keeps trading sideways. Buyers might seize the initiative — only if they return the price above the 0.073 mark.

Ethereum is trading at $1,223 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