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Ethereum Price Analysis – ETHUSD Risks Additional Losses

Ethereum Price Analysis

Ethereum price is diving below the key supports and may continue to move down towards $115 if it fails to stay above $120.

Ethereum Price Medium-Term Analysis

Yesterday December 17, the price of Ethereum (ETH) was still trading in a bearish trend zone. After a failed attempt to break above the $146 resistance, Ethereum price started a fresh decline below $140 and $138 support levels.

Moreover, there were additional losses below the $130 and $125 level. A new monthly low was formed near $120 level before correcting slightly higher. At the time of writing, Ethereum price is trading at the $121 level.

On the upside, if more buyers emerge, the coin will rise and retest the $125 and $130 price levels. The price must recover above many hurdles near $136, $138 and $140 to resume an upward move. On the other hand, if the bulls fail to break the $125 resistance, there is a risk of more downsides below the $120 support level.

Meanwhile, the Moving Average Convergence Divergence (MACD) line and the signal line are below the zero line which indicates a sell signal.

ETHUSD Price Short-Term Analysis

On the 1-hour chart, ETHUSD price is in a bearish trend. The pair is holding the $120 support and correcting higher. Having said that, the bears are still in control unless the bulls make an effort to push the price back above $125 and $130 to start a recovery.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal.

  • Resistance levels: $125, $130, $135
  • Support levels: $115, $110, $100

Disclaimer

Arathur Stephen is not registered as an investment adviser with any federal or state regulatory agency. The information above should not be construed as investment or trading advice and is not meant to be a solicitation or recommendation to buy, sell, or hold any cryptocurrencies. The information is solely provided for informational and educational purposes. Always seek the advice of a duly licensed professional before you make any investment.

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