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Ethereum (ETH) Price Prediction for December 21
The price of Ethereum is currently trading at $3,406, approaching the local support level of $3,393. If a breakout happens, it’s possible that the correction may continue to the $3,300 range shortly.
On the bigger time frame, however, bulls have failed to sustain yesterday’s growth. If today’s bar closes around the current prices or below, there is a chance that ETH will test the support level of $3,252 by the end of the week.
As we look at the midterm perspective, it’s crucial to focus on the weekly candle closure. If this occurs near $3,200, traders may witness an ongoing decline in the upcoming week.
In conclusion, the current price action suggests that Ethereum is unlikely to break above its previous highs anytime soon. In the meantime, investors should be cautious and wait for a clear indication before making any decisions.
Sources:
* TradingView
Author: Denys Serhiichuk
Source: u.today
