Ethereum

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   Dec 30, 2023 at 19:34 // 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 resumed its uptrend after falling back above the $2,300 support.</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;">Ethereum price made a good bounce to the upside on December 28 when it broke through the $2,300 and $2,400 resistance levels to reach a high of $2,447. However, buyers were unable to sustain the positive momentum above the $2,400 mark. The largest altcoin has pulled back above the $2,300 breakout level, suggesting that the cryptocurrency will continue to rise. If Ethereum breaks above the $2,400 resistance, it will reach a new high of $3,000.&nbsp;</p>
 <p style="text-align: justify;">On the downside, Ether will trade above the 21-day SMA but below the resistance at $2,440, invalidating the bullish scenario. Moreover, Ether will fall if the bears break below the 21-day SMA or the support at $2,300.</p>
 <h2 style="text-align: justify;" id="analysis-of-the-ethereum-indicators">Analysis of the Ethereum&nbsp; indicators</h2>
 <p style="text-align: justify;">Ether's price bars are dipping below the 21-day SMA and bouncing above it while trending upwards. The current uptrend is likely to end if the price dips below the 21-day SMA and the downward momentum continues. On the 4-hour chart, the moving average lines are still horizontal.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $2,200 and $2,400</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.29 (1).jpg" src="https://cdn.thebittimes.com/images/2023/12/31/13dea67454a2abc7e72734e5f2b50890.webp" height="491" title="ETHUSD_(Daily Chart) – Dec.29, 2023"><br> </b></p>
 <h2 style="text-align: justify;" id="what-s-next-for-ethereum">What's next for Ethereum?</h2>
 <p style="text-align: justify;">The largest altcoin has continued its positive performance and reclaimed the $2,300 resistance level. The digital asset is now trading above the $2,300 support and is trying to break through the $2,440 resistance. If buyers break through the recent high, the current uptrend will resume.</p>
 <p style="text-align: justify;"><img width="1024" alt="ETHUSD_(4-Hour Chart) – Dec.29 (1).jpg" src="https://cdn.thebittimes.com/images/2023/12/31/ce54f3a349a5a1d9a352b8d175eab1ff.webp" height="491" title="ETHUSD_(4-Hour Chart) – Dec.29, 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.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-reclaims-the-2-300-support-and-targets-its-peak-price-tbt75208.html">https://thebittimes.com/ethereum-reclaims-the-2-300-support-and-targets-its-peak-price-tbt75208.html</a></p>

Ethereum Reclaims The $2,300 Support And Targets Its Peak Price

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