Ethereum (ETH) Price Analysis – December 28

  • More selling at the $120 price level.
  • The broken support at $120 is likely to make the crypto to fall to the low of $110.

Ethereum, ETHUSD, CryptoCompare chartEthereum Chart By Trading View

ETHUSD Medium-term Trend: Bearish

  • Resistance Levels: $230, $240, $250
  • Support Levels: $130, $120, $100   

Yesterday, the ETHUSD pair was in a bearish trend. The crypto's price fell to the low of $118.57 but was resisted by the 12-day EMA and the 26-day EMA. The EMAs now acted as a support for the price of Ethereum. However, On December 27, there were more selling at the  $120 price level. As a result of the broken support at $120, the crypto may likely  fall to the low of $110.

Meanwhile, the crypto's price is above the 12-day EMA and the 26-day EMA which indicates that the price is in the bullish trend zone. Also, the Stochastic indicator is out of the overbought region but below the 60% range which indicates that Ethereum is in a bearish momentum.

ETHUSD Short-term Trend: Bearish  

Ethereum, ETHUSD, CryptoCompare chartEthereum Chart By Trading View                         

On the short-term trend, the price of Ethereum is in a bearish trend.  The crypto's price fell to the low of $118.08 and commenced a bullish movement above that price level. The crypto's price is below the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall. The stochastic bands are in the oversold region but below the 20% range which indicates that Ethereum is in a strong bearish momentum.

   

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