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Ethereum (ETH) Price Analysis for December 31

Sat, 12/31/2022 - 14:37
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Denys Serhiichuk
Does Ethereum (ETH) have chances for midterm rise?
Ethereum (ETH) Price Analysis for December 31
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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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Bulls are trying to seize the initiative on the last day of 2022 as all the top 10 coins are in the green zone.

Top coins by CoinMarketCap


Ethereum (ETH) has followed the bounce back of Bitcoin (BTC), rising by 0.45%.

ETH/USD chart by TradingView

On the local chart, Ethereum (ETH) is trading near the hourly resistance level at $1,199.60. If the candle closes near it, the breakout may lead to a further rise to the $1,206 zone by the end of the week.

ETH/USD chart by TradingView

On the daily time frame, the bar is about to close similarly to the previous one, which means that bulls still have a chance to seize the initiative.

Binance Coin (BNB) Price Analysis for December 29

If closure above the vital $1,200 zone happens, the impulse could continue to the $1,210-$1,220 zone within the next few days.

ETH/USD chart by TradingView

On the bigger chart, the situation remains the same, as the rate of Ethereum (ETH) has not decided which way to go yet in the midterm point of view. If bulls want to be back in the game, they need to restore the price above the $1,300 area.

Ethereum is trading at $1,198.60 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