Price analysis of $ETH

3622.90 €

rebounded from the downward trend line on December 3, indicating that bulls are trying to turn the level into support.

The upward moving averages and the RSI near the overbought zone suggest that the path of least resistance is upward. The ETH/USDT pair could rise to $4,000 and subsequently to $4,094. Buyers are expected to face strong selling at $4,094.

This optimistic outlook will be invalidated in the short term if the price turns down and breaks below the 20-day EMA ($3,436). Such a move will signal a lack of demand at higher levels. The pair could then fall to the 50-day SMA ($2,991).#ETH🔥🔥🔥🔥

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