Ethereum

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   Dec 11, 2023 at 12:43 // Price 
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
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 <p><strong>The price of Ethereum (ETH) has retreated after reaching a high of $2,404 on December 9. Todays price <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p> 
 <h2 style="text-align: justify;" id="long-term-analysis-of-the-ethereum-price-bullish">Long-term analysis of the Ethereum price: bullish</h2> 
 <p style="text-align: justify;"> The largest altcoin has reached an overbought market region. Ether price fell above the 21-day SMA and then reversed. Ether is recovering above the moving average lines and preparing for an upward push. The first price target for the largest altcoin is $2,500. Later, sellers will try to stop the rise at $2,500 and then $3,000. </p> 
 <p style="text-align: justify;"> In the meantime, the uptrend is being held back by resistance at $2,400. At the time of writing, Ether is valued at $2,249 and if the bears break below the 21-day SMA, the current rise could come to a halt. The altcoin will first drop to a low above the 50-day SMA, which is comparable to a low of $2,020. </p> 
 <h2 style="text-align: justify;" id="analysis-of-the-ethereum-indicators">Analysis of the Ethereum&nbsp; indicators</h2> 
 <p style="text-align: justify;"> On the daily chart, the price bar has retested the 21-day SMA and bounced off it. This suggests that the altcoin has the potential for further growth and that the current rally will continue. On the 4-hour chart, the upward moving average lines are above the price bars. </p> 
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3> 
 <p style="text-align: justify;"> <b>Key resistance levels – $1,800 and $2,000</b> </p> 
 <p style="text-align: justify;"> <b>Key support levels – $1,600 and $1,400</b> </p> 
 <p style="text-align: justify;"> <b><img width="1024" alt="ETHUSD_(Daily Chart) – Dec.11.jpg" src="https://cdn.thebittimes.com/images/2023/12/11/62225feebea257dc22c10577ce3b2118.webp" height="511" title="ETHUSD_(Daily Chart) – Dec.11, 2023"><br> </b> </p> 
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-ethereum">What is the next direction for Ethereum?</h2> 
 <p style="text-align: justify;"> Ether is trading above the moving average lines in a positive trend zone. It is currently trading between $2,200 and $2,400. If buyers break above the resistance at $2,400, the uptrend will resume. The price movement is currently stagnating above the $2,200 support. Last week Ether has broken through the $2,400 resistance zone, as Coinidol.com reported.&nbsp;&nbsp; </p> 
 <p style="text-align: justify;"> <i><span style="color: #959595;">Disclaimer. This <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i> </p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ethereum-remains-stationary-above-2-200-as-buyers-jump-back-in-tbt73328.html">https://thebittimes.com/ethereum-remains-stationary-above-2-200-as-buyers-jump-back-in-tbt73328.html</a></p>

Ethereum Remains Stationary Above $2,200 As Buyers Jump Back In

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