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Ethereum (ETH) Price Analysis for December 25

Sun, 12/25/2022 - 13:54
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Denys Serhiichuk
Can Ethereum (ETH) remain more powerful than other coins?
Ethereum (ETH) Price Analysis for December 25
Cover image via www.tradingview.com

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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The last day of the week is neutral for the cryptocurrency market as some coins are in the red zone, while the prices of others are rising.

Top coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) has not changed since yesterday. Over the last seven days, the price has grown by 3.08%.

ETH/USD chart by TradingView

The price of Ethereum (ETH) has bounced off the local resistance level at $1,222.10. Traders should now pay attention to the hourly support at $1,215.60. If the drop continues to that point, the rate may reach the $1,200 zone tomorrow.

ETH/USD chart by TradingView

On the bigger time frame, Ethereum (ETH) has not accumulated enough power for a further move. The price is located in the narrow range with neither bullish nor bearish signals.

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XRP Price Analysis for December 24

An upward move may only happen if the rate fixes above the support level at $1,230.20.

ETH/USD chart by TradingView

On the weekly chart, the rate of Ethereum (ETH) has made a false breakout of the support at $1,071. If today's candle closes with no long wicks, traders may expect to see a move to the nearest vital zone of $1,300 within the next weeks.

Ethereum is trading at $1,219 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 denys.serhiichuk@u.today.