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Ethereum (ETH) Price Analysis for December 28

Wed, 12/28/2022 - 15:26
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Denys Serhiichuk
How long is fall of Ethereum (ETH) going to last?
Ethereum (ETH) Price Analysis for December 28
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Bulls could not hold the initiative for a long time and, again, most of the coins are in the red zone.

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Ethereum (ETH) is more of a loser than Bitcoin (BTC), falling by almost 2% over the last 24 hours.

ETH/USD chart by TradingView

On the hourly chart, Ethereum (ETH) is trading in the middle of a narrow range, between the support at $1,187 and the resistance at $1,197.

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If the bar closes near the $1,197 mark, bulls might again test the $1,200 zone tomorrow.

ETH/USD chart by TradingView

On the bigger time frame, traders should pay attention to the interim support level at $1,196.50. If the daily bar closes below it, the fall may continue to another level at $1,182.

ETH/BTC chart by TradingView

Ethereum (ETH) is also bearish on the chart against Bitcoin (BTC), as the price is coming back to the support at 0.071493. If the breakout occurs, the decline may lead to the test of the 0.071 area until the end of the week.

Ethereum is trading at $1,195 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