Ethereum Price Prediction: Watch out for the Next Move as ETH/USD Bounces off $130 Support

ETH Price Prediction – December 22

Ethereum price is showing some positive signs above $130 against USD; the price may likely start a fresh increase above $135.

ETH/USD Market

Key Levels:

Resistance levels: $150, $160, $170

Support levels: $105, $100, $95

ETHUSD – Daily Chart

ETH/USD has jumped from $126.81 to touch the intraday high at $132.76 in a matter of hours. The crypto has retreated to $130 as at the time of writing but the pair still retains the bullish momentum. In the short term, ETH/USD has gained more than 3.55% since the beginning of the trading day. For now, Ethereum (ETH) is one of the top cryptos in the market cap.

However, due to a strong upside movement of the coin, ETH/USD broke free from the recent downtrend of December 19 and moved to touch the level where the price started falling. Looking at the daily chart, the $125 remains to be a key support zone and if it is broken, the sell-off may be extended towards $120 support level.

Currently, the price of the coin is changing hands at $132.23 level and the bulls are making effort to push it above the 9-day and 21-day moving averages. In other words, any reversal to the south may likely welcome the resumption of the bears back into the market and the price could meet the critical supports at $105, $100 and $95 levels.

More so, the RSI (14) moves to cross above the 40-level, which indicates the continuation of the bullish trends and further resistance could be found at $150, $155 and $160 levels.

Against Bitcoin, Ethereum (ETH) is currently changing hands at 0.0178 BTC after witnessing some heavy bearish moment in the last few days. Looking at the daily chart, the current trend of the coin is still the same but the bulls tried to push the coin towards the 9-day and 21-day MA within the descending channel after which it started falling again. This reliable bitcoin price tracker helps the investors and traders to make better decisions during trading.

ETHBTC – Daily Chart

More so, if the bulls manage to power the market, it may soon find the resistance level at 0.0178 BTC and above. However, Ethereum is currently consolidating and could start moving in sideways on the medium-term outlook. We can expect a surge in volatility to occur as the RSI (14) is extremely within the oversold.

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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.