Ethereum Price Prediction: ETH/USD Falls as Bears Attempt to Sink Price below $145

Ethereum (ETH) Price Prediction – December 15

Ethereum price movement has been insignificant in the last 48 hours. The coin is fluctuating below the horizontal channel.

ETH/USD Market

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

ETH/USD – Daily Chart

ETH/USD pair continues to fluctuate below the horizontal channel which includes the $160 to $200 price range. Later, the coin plunges and fluctuates in a small price range of $136 to $157. For the past five days, the price movement has been relatively slow. The daily price movement has been insignificant. Regrettably, it will take days of fluctuation before we have a low of $136 or the high of $157 broken.

Meanwhile, the market is fluctuating in a tight range between the low of $140 and $145 because of low volatility. Presently, the market has reached a low of $143, if the falls below $136, the downtrend will resume. However, if the support level holds, the coin will continue its range-bound movement. Nevertheless, Ethereum is trading below a 40% range of the daily stochastic. This implies that the coin is in a bearish momentum.

In the ETH/BTC pair, the price movement has remained the same in the last 48 hours. The coin is fluctuating between the levels of Ƀ0.016000 and Ƀ0.022000. In the price fluctuation, the bears seem to have an upper hand. The market is trading below the EMAs, this portends a negative signal.

ETH/BTC – Daily Chart

The price tends to fall while in a bearish trend zone. For instance, a break below the support line will depreciate ETH to reach a low of Ƀ0.014000. Meanwhile, the Relative Strength Index period 14 level 46 indicates that the market is in a range-bound movement.

 

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About AzeezMustaph

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.