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Ethereum (ETH) Price Prediction for December 29
As the cryptocurrency market remains uncertain and unpredictable, traders are looking for insights into the price movements of major assets like Ethereum. In a recent analysis, Denys Serhiichuk suggests that Ethereum is trading at $3,406 as of press time.
The short-term perspective appears to be unfavorable for a significant move either up or down. Traders may witness a test of the support of $3,375 by tomorrow, according to the analyst’s assessment. This could potentially lead to some consolidation and sideways trading.
On the bigger time frame, the situation remains neutral as the price is far from the main levels. Denys notes that the volume keeps going down, indicating neither buyers nor sellers are willing to take control at this point in time.
From a midterm perspective, it’s too early to expect a reversal despite the possibility of a bullish weekly closure. If the bar closes around the current prices, ongoing sideways trading becomes the more likely scenario.
In conclusion, the Ethereum price prediction for December 29 suggests that traders should not anticipate sharp movements or reversals in the near future. The analyst’s assessment advises caution and patience as investors wait for clearer market signals to emerge.
[Source: U.Today]
Source: u.today
