Analysis of Ether's Price
The failure of the bears to sink Ether
tickers down
3736.37 €
below the downward trend line attracted strong buying from the bulls.
The ETH/USDT pair reached near 4,000 dollars on December 12, where the bears are expected to mount a strong defense. If the price drops from the current level but bounces off the 20-day exponential moving average (3,686 dollars), it will indicate a positive sentiment. This will improve the prospects of a rally above 4,094 dollars. The pair could then rise to 4,500 dollars.
Conversely, if the price drops and breaks below the 20-day exponential moving average, it will suggest that the bears are fiercely defending the 4,094 dollar level. This could keep the pair in a range between 4,094 dollars and 3,500 dollars for a while.#Ethereum.