Ethereum

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   Dec 19, 2023 at 08:22 // 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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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/0a2/900_900_1/jl3syrfpymu0ko1ks6defeax4mhk6egn.jpg" width="900" height="563" alt="" title="">
 <p><strong>The price of Ethereum (ETH) has succumbed to selling pressure after falling below the 21-day SMA support. Price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p>
 <h2 id="p-style-text-align-justify-long-term-a-rel-noopener-noreferrer-nofollow-title-category-analysis-href-https-thebittimes-com-analysis-html-analysis-a-of-the-ethereum-price-bullish-p"><p style="text-align: justify;">Long-term <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> of the Ethereum price: bullish</p></h2>
 <p style="text-align: justify;">Buyers were unable to sustain the positive trend above the $2,400 level. The largest altcoin was rejected twice at its recent high and broke below the 21-day SMA. Ether has now fallen to a low of $2,166.80 as we write this article. However, the current decline will continue to a low above the 50-day SMA or $2,094. The cryptocurrency will fall further if the bears break the moving average lines.&nbsp;</p>
 <p style="text-align: justify;">The price indicator predicts that ETH will fall to the 2.618 Fibonacci extension level. This corresponds to a low of $1,714.80. However, today, December 19, ETH price moved up to $2235.</p>
 <h2 style="text-align: justify;" id="analysis-of-the-ethereum-indicator">Analysis of the Ethereum&nbsp; indicator</h2>
 <p style="text-align: justify;">Ether's price is bearish as it approaches the middle of the price range. After breaking below the 21-day SMA support, the altcoin's price is approaching the 50-day SMA. The upward sloping moving average lines continue to point north after the decline.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $2,000 and $2,200</b></p>
 <p style="text-align: justify;"><b>Key support levels – $1,800 and $1,600</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="ETHUSD_(Daily Chart) – Dec.18.jpg" src="https://cdn.thebittimes.com/images/2023/12/19/7887e66bb9ed44186c04ebb0bc4c272b.webp" height="491" title="ETHUSD_(Daily Chart) – Dec.18, 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 falling below the moving average lines on the 4-hour chart. After ending the uptrend on December 8, Ether entered a horizontal trend. The digital currency was trading between $2,145 and $2,400. The altcoin is set to fall further today as the bears retest the lower price area.</p>
 <p style="text-align: justify;"><img width="1024" alt="ETHUSD_(4-hour Chart) – Dec.18.jpg" src="https://cdn.thebittimes.com/images/2023/12/19/333084a886426bc3275ab4150ac26c23.webp" height="491" title="ETHUSD_(4-hour Chart) – Dec.18, 2023"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" 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.&nbsp;&nbsp;</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-price-crashes-as-bears-breach-critical-2-200-mark-tbt74161.html">https://thebittimes.com/ethereum-price-crashes-as-bears-breach-critical-2-200-mark-tbt74161.html</a></p>

Ethereum Price Crashes As Bears Breach Critical $2,200 Mark

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