$ETH

ETH Price Analysis

Brothers, ETH has been performing a bit weak recently! It fell from the resistance level of $4094 on December 16, indicating that the bears are defending fiercely and giving no face to the bulls.

Currently, the price has dropped below and closed beneath the 20-day moving average, showing that this wave of bulls is obviously lacking strength, and it is now approaching the descending trend line, where strong support from the bulls is expected to appear.

What’s next? The key is to watch the 20-day moving average ($3750); if the price cannot break through and rebound strongly, the short-term trend may continue to fluctuate. If it successfully stands above $4094, then there is hope to challenge the major level of $4500!

In summary: The short-term key is to focus on the 20-day moving average; whether the rebound can be sustained is crucial, as opportunities are always reserved for those who are patient!