Ethereum Price Prediction, Price Woes Amid Bitcoin Soaring Surge

Key Takeaways
  • Ethereum is on an upward trajectory, engaged in a retest of its breakout zone within an ascending triangle.
  • The current retest of Ethereum's breakout zone suggests a potential price target of $3,500.
21-12-2023 By: Lokesh Gupta
Ethereum Price Prediction, Price Woes Amid Bitcoin Soaring Surge

Ethereum struggles to surpass $2,250 resistance.

  • According to Coingabbar Technical Analysis, Ethereum's price faces challenges reclaiming $2,250, contrasting with Bitcoin's $43,500 breakthrough.

  • ETH exhibits worrisome indicators, suggesting vulnerability to a significant downturn.

  • Struggling to surpass the $2,250 resistance, Ethereum is encountering hurdles in upward momentum.

  • Trading under $2,200 and the 100-hourly Simple Moving Average, price weakness persists.

  • Prolonged stay below $2,250 may trigger substantial declines for the Ethereum pair.

  • Ethereum undergoes a retest of the ascending triangle breakout line.

  • The 4-hour chart reveals ETH trading within a descending channel.

KEY LEVELS :

RESISTANCE LEVEL : $2,270-$2,330

SUPPORT LEVEL : $2,180-$2,130

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

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