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Ethereum Price Prediction: ETH/USD continues the flat movement, Uncertain of uptrend move

Ethereum (ETH) Price Prediction – December 12

The ETH/USD pair is fluctuating in a price range beside the larger price range but uncertain about uptrend move. The ETH/BTC is also in a price range but certain of uptrend move.

ETH/USD Market

Key Levels:
Resistance Levels: $200, $220, $240
Support Levels: $160, $140, $120

ETH/USD – Daily Chart

The ETH/USD pair is fluctuating between the levels of $136 and $157. This is a sequel to the breaking out of the larger price range of $160 and $200. The coin is trading in the smaller price range. The bulls have made attempt to revisit the larger price range but were resisted at $157 price level. The coin fell to a low of $148. The bull’s second upward move was resisted at $152. Ethereum is currently falling as a result of that resistance.

The coin reached a low of $140 and pulled back. Ethereum is approaching the high of $145 at the time of writing. On the upside, if the bulls break the resistance at $157, the coin will rally into the larger price level. On the downside, if the selling pressure continues and the low of $136 is broken, the coin will depreciation. Meanwhile, the RSI period 14 level 37 indicates that the coin is  approaching the range-bound zone.

ETH/BTC- Daily Chart

In the ETH/BTC pair, the coin is fluctuating in a price range of Ƀ0.016000 and Ƀ0.022000. The bulls seem to have the upper hand as they continue to push the price above the resistance at Ƀ0.022000. The inability of the bulls have compelled the coin to a range-bound movement. A break above the resistance will enable ETH to reach a high of Ƀ0.030000. Meanwhile, the pair is trading above the 25% range of the daily stochastic. This indicates that the coin is in bullish momentum.

 

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.