CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$50,452.00
  • ethereum
    ETH$1,726.95
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » ETH » Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move?

    Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move?

    Author: Yaz Sheikh

    Last Updated Dec 30, 2020 @ 15:08

    Ethereum moved sideways over the past 3-days but is still up by 15.5% this week as it battles with the $735 resistance. Against BTC, it surged higher to meet resistance at 0.027 BTC.

    ETH/USD – Ethereum Bulls Battling To Head Toward $750

    Key Support Levels: $720, $700, $675.
    Key Resistance Levels: $750, $762, $790.

    Etheruem surged by 15.5% this week, which allowed it to break resistance at $674 (bearish .786 Fib Retracement) to reach the current $735 price.

    The coin struggled to break $733 (1.414 Fib Extension) over the past 2-days and is continuing to consolidate in the past few days below $750  something that’s likely to end with a wild move. It is essential to wait for a daily candle close above $733 before confirming that it is ready to head toward $750 and beyond.

    ethusd-dec30
    ETH/USD Daily Chart. Source: TradingView

    ETH-USD Short Term Price Prediction

    Looking ahead, the first level of resistance lies at $750 (bearish .886 Fib Retracement). This is followed by $762, $790, and $800. Beyond $800, additional resistance lies at $816 and $855.

    Alternatively, if the sellers push lower, the first level of support lies at $720. This is followed by $700, $675, and $645 (.382 Fib).

    The RSI is approaching overbought conditions and is starting to flatten out, suggesting that the bullish momentum might be ready to subside. Additionally, the Stochastic RSI is setting up a bearish crossover signal that could send the market lower.

    ETH/BTC – ETH Rebound Stalls At 0.027 BTC.

    Key Support Levels: 0.026 BTC, 0.0251 BTC, 0.0245 BTC.
    Key Resistance Levels: 0.027 BTC, 0.0276 BTC 0.0284 BTC.

    Against Bitcoin, EThereum bounced from the 0.024 BTC level earlier in the week and managed to push as high as 0.027 BTC. There, it met resistance at a bearish .382 Fib Retracement and could not break above this level.

    As a result, ETH dropped slightly and is now trading at 0.0261 BTC.

    ethbtc-dec30
    ETH/BTC Daily Chart. Source: TradingView

    ETH-BTC Short Term Price Prediction

    Looking ahead, if the bulls can regroup, the first level of resistance lies at 0.027 BTC. This is followed by resistance at 0.0276 BTC, 0.0284 BTC (Feb 2020 High), and 0.029 BTC.

    On the other side, support first lies at 0.026 BTC. This is followed by 0.0251 BTC, 0.0245 BTC (July 2020 lows), and 0.024 BTC.

    The RSI has reversed from the mid-line to indicate that the bulls could not take control of the market momentum. It is heading lower to suggest that the bearish momentum is once again increasing. Again, the Stochastic RSI is also shaping up for a bearish crossover signal in the coming week.

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.


    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

    Cryptocurrency charts by TradingView.
    Tags: Ethereum (ETH) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Yaz Sheikh
    More posts by this author

    Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

  • bitcoin
    BTC$50,452.00
  • ethereum
    ETH$1,726.95
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    pionexb
    2local
    Bitcoin Editorials
    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    The Laser Eyes Meme: Not a Coincidence That This Marked a Local Top for Bitcoin (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    What Are the Risks of Governance Tokens? (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    The Bitcoin Bubble Effect: Yes, We Are in a Very Early Stage (Opinion)

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Will Bitcoin Price Rally Continue In 2021? 8 Key Considerations

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!