$ETH Ethereum Price Prediction for December 2024 📊
Current market indicators analyses:
• Current Price: $3,987.40
• 24H High/Low: $4,024.01 / $3,923.50
• RSI Levels:
• RSI(6): 70.41 (overbought level)
• RSI(24): 60.75
The RSI values suggest that ETH may face resistance if it continues to rise, but the momentum remains strong for now. The Exponential Moving Averages (EMA) indicate a bullish crossover , reflecting potential upward movement in the short term.
Key Levels to Watch: 🚨
• Support: $3,350-$3,500
• Resistance: $4,100-$4,200
Breaking past the $4,100 resistance could lead to retesting the $4,500-$4,800 levels.
News Impacting - ETH Layer 2 Scaling Adoption: The ongoing adoption of Layer 2 solutions like Arbitrum and Optimism has significantly reduced gas fees, driving user activity and transactions on the Ethereum network.
Given the current momentum and the broader market sentiment, ETH has the potential to move past $4,000 and test higher resistance levels near $4,200.
Prediction Range: $3,800-$4,300📉📈
If bullish momentum holds, ETH could aim for $4,500 by the month’s end.
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