Ethereum

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The week is about to end more bearish than bullish, according to <a href="https://u.today/shib-price-analysis-for-december-9" rel="noopener noreferrer nofollow">CoinMarketCap</a>. <img data-entity-type="file" data-entity-uuid="6aaf0b52-bf7a-4eaf-9023-62304735fc78" src="https://u.today/sites/default/files/inline-images/top10_823.png">Top coins by <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
<h2 class="text-align-justify" id="eth-usd">ETH/USD</h2>
The price of Ethereum (ETH) has declined by 0.78% since yesterday. Over the last week, the price has risen by 8.26%. <img data-entity-type="file" data-entity-uuid="1cd33dd9-ba33-4e26-b20b-debedbdc4343" src="https://u.today/sites/default/files/inline-images/eth1_100.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the hourly chart, the rate of ETH might have found a local support level at $2,324. If the upward move continues, there is a possibility of a test of the $2,350 zone by the end of the day. <img data-entity-type="file" data-entity-uuid="a01c6592-8b6b-4a84-993e-4056a086ab60" src="https://u.today/sites/default/files/inline-images/eth2_105.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
A worse picture is on the daily frame, as the price keeps falling after a false breakout of the resistance at $2,392. If buyers cannot seize the initiative shortly, a correction to the area of $2,300 is the more likely scenario for the next few days. <img data-entity-type="file" data-entity-uuid="3effc868-77b4-4d01-bcbf-6e1d4c8410d3" src="https://u.today/sites/default/files/inline-images/eth3_95.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
The situation is neither bullish nor bearish on the weekly chart as the rate of ETH is far from support or resistance levels.
However, if growth continues to $2,500, traders may expect a breakout followed by a blast to the $2,600-$2,700 area.
Ethereum is trading at $2,343 at press time.

Ethereum (ETH) Price Analysis for December 10

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