Prediction of Ethereum's Price - December 19

At the time of writing, the Ethereum price prediction has fallen to 1.57% as the coin falls below its opening price of $3961.

Market ETH/USD

Key Levels:

Resistance levels: $4200 - $4400 - $4600

Support levels: $3600, $3400, $3200

After an unsuccessful attempt to settle below the 9-day moving mean during the European session, ETH/USD has fallen below $3900. The Ethereum (ETH), which is currently trading at $3899, is down 1.57% from its daily high of $4039. The bears have been holding the market price below its 9-day and 21 day moving averages for the past few days; they hope to reach the potential $4100 resistance level.

Ethereum Price Prediction: Will Ethereum's Price Rise Above $4200?

The daily chart shows that a break above $4100 would most likely boost the Ethereum price towards the critical resistance levels at $4200, $4400 and $4600. The technical indicator Relative Strength (14), which has a bearish feeling, is currently below the 45-level. The first support is at $3800 if the $3900 level fails to hold today's session.

If the Ethereum price falls below the channel's lower boundary, it could be more bearish. The market price could still fluctuate if the signal line for technical indicator RSI (14) continues to move in that same direction. However, critical support levels may be found at $3600, $3400 and $3200, which are below the channel's lower boundary.

Comparing to Bitcoin, the bears are trying to get back in the market while the coin shows some negative signs that could lead to lower lows. If the price falls below the 9-day or 21-day moving averages, it will be a more difficult task. The nearest support level is at 7800 SAT or below.

Moreover, the closest resistance level to the upside is at 8500 SAT. Above this, further resistance lies around 9000 SAT. Relative Strength Index (14), a technical indicator, is below 60-level. This indicates that there may be more bearish signals.

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By: Azeez Mustapha
Title: Ethereum Price Prediction: ETH/USD Slides below 3900 Support
Sourced From: insidebitcoins.com/news/ethereum-price-prediction-eth-usd-slides-below-3900-support
Published Date: Sun, 19 Dec 2021 20:35:32 +0000