ETH/USD are trading at 3686 and continue to move within the framework of the development of the fall and the bullish channel. Moving averages indicate a short-term upward trend in Ether. Prices are testing the area between the signal lines again, indicating pressure from buyers and a potential continuation of the asset’s decline from current levels. At the moment, we should expect an attempt to develop coin growth and a test of the resistance level near the 3835 area. From where we should again expect a downward price rebound and a continuation of the Ethereum rate decline with a potential target below the 2945 level.
Ethereum Forecast and Analysis for December 20, 2024
An additional signal in favor of a fall in ETH/USD quotes will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the upper border of the Double Top reversal pattern. The cancellation of the cryptocurrency fall option will be a strong increase in the Ethereum value and a breakout of the 4275 level. This will indicate a breakout of the resistance area and a continuation of the growth of ETH/USD quotes to the 4705 level. With a breakout of the support area and closing of quotes below the 3485 mark, which will indicate a breakout of the lower border of the bullish channel.
Ethereum Forecast and Analysis for December 20, 2024 suggests an attempt at correction and a test of the resistance area near the level of 3835. Where should we expect a rebound and continued fall of the ETH/USD cryptocurrency to the area below the level of 2945. An additional signal in favor of the decline of Ethereum will be a test of the trend line on the relative strength indicator. The cancellation of the option of the fall of the digital currency will be a breakout of the 4275 area. Which will indicate continued growth of the digital currency with a potential target above the level of 4705.
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