Ethereum

Bitcoin ETF

Bitcoin

Optimism

<ul>
 <li><strong>At the time of writing, ETH is trading at $2132, down 3.95% in the last 24 hours.</strong></li>
 <li><strong>If the price surges and manages to go above $2244 then it will likely test $2282.</strong></li>
</ul>
<p>Optimism over the anticipated approval of spot Bitcoin ETF applications in the U.S. market has propelled Bitcoin to the forefront of the larger market rise over the last two months.</p>
<p>However, there was a noticeable slowdown in crypto trading activity on the final non-holiday weekend of the year, which might indicate that the market has reached its top for 2023 and will likely stay flat until 2024.</p>
<p>A noteworthy change in investor attitude toward profit-taking was marked by $33 million worth of <a href="https://thenewscrypto.com/bitcoin-average-transaction-fees-nears-40-highest-since-april-2021/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> outflows last week. At the same time, the analysis from CoinShares clarifies this pattern, stressing that it seems to be more of a sign of profit-taking than of a general shift in attitude towards cryptocurrencies. In addition, <a href="https://thenewscrypto.com/ethereum-price-rebounds-after-brief-correction-to-2155-level/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> saw some small outflows as well, shedding $4.4 million.</p>
<h3 class="wp-block-heading" id="h-trading-in-red">Trading in Red</h3>
<p>The price of Ethereum was unable to break over the $2,300 barrier level. After reaching around the $2,330 area, ETH began a precipitous fall as bears took over. Moreover, the price recently broke below the key support level of $2154.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="630" height="380" src="https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_7D_graph_coinmarketcap-2.png" alt="" class="wp-image-87655" srcset="https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_7D_graph_coinmarketcap-2.png 630w, https://thenewscrypto.com/wp-content/uploads/2023/12/ETH_7D_graph_coinmarketcap-2-300x181.png 300w" sizes="(max-width: 630px) 100vw, 630px">
  <figcaption class="wp-element-caption">
   Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div>
<p>At the time of writing, ETH is trading at $2132, down 3.95% in the last 24 hours as per data from CoinMarketCap. Moreover, the trading volume is up 39.12%.</p>
<p>If the price surges and manages to go above $2244 then it will likely climb higher to test the $2282 resistance area. On the other hand, if the price maintains the current bearish momentum and goes below $2080 support level then it will likely decline further to test $2043 level.</p>

Ethereum Breaks Below Key Support Level as Bears Dominate

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