ETH/USD May Slide Below $4000
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Ethereum Price Prediction – December 26
The Ethereum price prediction shows ETH approaching a critical support level; the coin needs to stay above the support of $4000.
ETH/USD Market
Key Levels:
Resistance levels: $4500, $4700, $4900
Support levels: $3700, $3500, $3300
ETHUSD – Daily Chart
At the time of writing, ETH/USD is hovering at $4081 following a 0.38% loss after touching the daily high at $4105. However, the Ethereum price is yet to see any major pullbacks as the coin may use the 21-day moving average for support if it happens. Meanwhile, the most important movement for Ethereum is break above the resistance level of $4200, which could represent a major resistance level.
Ethereum Price Prediction: Will ETH Break Below the Moving Averages?
According to the daily chart, the Ethereum price stays above the 9-day and 21-day moving averages but the daily low at $4000 may likely give the buyers a tough time. Moreover, a break below this support level could give ETH/USD a fall below the lower boundary of the channel before reaching the critical supports at $3700, $3500, and $3300.
Furthermore, the Relative Strength Index (14) may confirm the bearish movement if the signal line heads below the 50-level. However, until the market finds a stable level to reinforce the uptrend, ETH/USD may break below channel. If not, the resistance level might come to play at $4200 while the potential resistance levels could be located at $4500, $4700, and $4900.
Against the BTC, the Ethereum price is clearly ranging at the time of writing. As the price remains below the 9-day and 21-day moving averages, sellers are posing an additional threat for buyers which could slide towards the lower boundary of the channel where the nearest support level is located. However, an eventual break below this barrier may cause the coin to collapse.
ETHBTC – Daily Chart
Nevertheless, a continuation of the downtrend could touch the critical support at 7500 SAT and below as the Relative Strength Index (14) is likely to remain below 50-level. Meanwhile, if the price faces the upside, the buyers may push the market above the moving averages to hit the potential resistance at 8700 SAT and above.
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