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Ethereum (ETH) Price Prediction for December 20
The Ethereum price has been on a downward trend recently, and it appears that the correction may continue shortly. The current bearish movement has led to a break below the $3,406 support level, which is not looking good for the bulls.
From the short-term perspective, there’s still a chance of a breakout happening, but if that fails, the correction may continue to the $3,300 range shortly.
Looking at the bigger time frame, it’s clear that the bears have taken control. Yesterday’s growth was unable to sustain itself, and this has led to a decline in price. The current candle is still in progress, but if it closes below today’s low or even around the current prices, there’s a possibility of a test of the support level at $3,252 by the end of the week.
From a midterm perspective, it’s essential to focus on the weekly candle closure rather than trying to predict short-term movements.
Source: u.today
