Ethereum

bullish

Solana

<p>With the broader market paying attention to the XRP price rally as it crossed above the Solana and USDT in terms of market cap, the Ethereum price is struggling to sustain a bull run.&nbsp;</p>  
<p>Further, the intraday drop of 2.54% brings the Ethereum price closer to the $3600 psychological support. With its market cap hinging at $435 billion, will Ethereum crash and lose to the XRP rally? Let's find out in this Ethereum price prediction.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-ethereum-price-analysis">Ethereum Price Analysis</h2>  
<p>In the 4H chart, the ETH price action showcases a broadening wedge, showcasing a massive rising channel pattern at play. However, the higher-high formation in the bullish channel fails to surpass the critical resistance at $3,750, resulting in a bearish turnaround with a dome-shaped reversal.&nbsp;</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/02173257/Lfqj7oCF-1024x481.webp" alt="Ethereum Price Analysis" class="wp-image-388003">
</figure>  
<p><a href="https://www.tradingview.com/x/Lfqj7oCF/" target="_blank" rel="noopener noreferrer nofollow">Tradingview</a></p>  
<p>The ETH price is now back at $3,615. The intraday pullback comes with a higher price action from the R1 pivot resistance level at $3,759. Currently, the Ethereum price is making its fifth consecutive bearish candle in the 4-hour chart and inching closer to the nearest pivot support at $3,570.&nbsp;</p>  
<p>The bearish turnaround has broken under the 20-EMA in the 4-hour chart. Further, it has recorded an intraday pullback of 2.54%, the new negative cycle within the rising channel pattern.&nbsp;</p>  
<h3 class="wp-block-heading" id="h-technical-indicators">Technical Indicators:</h3>  
<p><strong>EMA</strong>:&nbsp; The Ethereum Price is inching closer to the 50-EMA at $3,551. With the dynamic average lines in the 4-hour chart maintaining a positive trend in a bullish alignment, the altcoin is likely to prolong its bullish rally.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-will-ethereum-price-hit-4-000">Will Ethereum Price Hit $4,000?</h2>  
<p>However, in the next 24 hours, the crucial support levels near $3,550 will play a massive role in determining the Ethereum Price trend. A bullish reversal from the rising support trendline will retest the $3,759 with a V-shaped recovery.&nbsp;</p>  
<p>However, the trading volume and bullish sentiments must recover for this in the U.S. trading hours. In case of a sideways shift, a bearish outcome will likely retest the $3,382. If the broader market recovers, the $3,750 breakout rally will challenge the $4,064 mark, declaiming the $4K mark in the next 24 hours.</p>  
<p>Will the bull run in ETH surpass $4,000 in 2024? Find out now in Coinpedia’s well-rounded <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" target="_blank" rel="noopener noreferrer nofollow">ETH price prediction</a>!</p>  
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>  
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1733141005939"><strong class="schema-faq-question">What is Ethereum's immediate support level?</strong>
  <p class="schema-faq-answer">The immediate support is at $3,550, with $3,382 as the next level.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1733141011025"><strong class="schema-faq-question">What is the key resistance Ethereum must break?</strong>
  <p class="schema-faq-answer">Ethereum must break the $3,750 resistance to aim for the $4,064 target.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1733141011277"><strong class="schema-faq-question">Will Ethereum recover its bullish trend?</strong>
  <p class="schema-faq-answer">A bullish reversal from $3,550 support could lead to a V-shaped recovery, retesting $3,750.</p>
 </div>
</div>

Ethereum Price Prediction (Dec 2nd 2024)

Table of Contents

CoinPedia News

Other articles published on Dec 2, 2024

Ancient8 Secures Optimism Grant to Empower Builders and Transform Onchain Gaming (2 Dec)

Japan Crypto Exchange DMM Bitcoin Shuts Down Following Major Hack and Losses

Qubetics Reaches 5,300 Holders with Over 251 Million $TICS Tokens Sold, While Ripple Leads Cross-...

XRP Price Prediction 2025

Michael Saylor’s Bold Vision: Microsoft Could Add $5 Trillion by Embracing Bitcoin

Crypto Expert Shares Bullish Views on Altcoins

Join our free newsletter for daily crypto updates!