Ethereum Price Prediction: Can the ETH Price Reclaim $3,200 Before Christmas?
ETH has climbed by practically 4% in the previous 24 hours as the crypto market bounced strongly following a constructive inflation report in the United States. Does this favor a bullish Ethereum value prediction that sees the token breaking previous $3,200 earlier than Christmas?
Trading volumes elevated by 42% throughout this era, at present accounting for 10% of the token’s circulating market cap, which means that the shopping for strain has elevated considerably.
Crypto dealer Ted Pillows, whose X account is adopted by greater than 250,000 customers on X, sees the value of ETH rising previous $3,200 so long as the $2,700 – $2,800 help holds.
The market’s temper continues to be bitter as the Fear and Greed Index at present sits at 21. This signifies that traders are fearful as volatility has spiked in the previous few weeks.
Nonetheless, long-term short-term readings appear to point out that the sell-off has already gone too far, probably favoring a bullish Ethereum price prediction for the subsequent few weeks.
Ethereum Price Prediction: ETH Hits Key Trend Line Support – Can It Break It?
The 4-hour value chart for Ethereum exhibits that the token lately bounced strongly off the $2,800 stage and quickly climbed to retest the higher certain of a descending value channel that has been forming for weeks.
In this decrease time-frame, the Relative Strength Index (RSI) has hit oversold territory already. The final two instances this occurred, the value rallied strongly and surpassed the $3,000 stage shortly afterward.
If this sample repeats, we might see ETH breaking previous the $3,000 stage in the subsequent couple of days. The first cease might be round $3,050 for a confirmed pattern reversal, adopted by a robust push to $3,400. This implies a 15% upside potential based mostly on the place ETH is buying and selling at this time.
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