Ethereum

Based

bullish

<p>With Bitcoin's price crossing above the $100,000 mark, it is currently trading at $103,213. This marks a 7.62% sell over the past 24 hours. Amid the increased bullish momentum in the crypto market, Ethereum's price records a 4.18% jump to surpass the $3,800 barrier.&nbsp;</p>  
<p>Currently, with a market cap of $461 million, the Ethereum price is trading at $3,829. Will this breakout rally result in a new 52-week high for Ethereum? Let's find out.</p>  
<h2 class="wp-block-heading" id="h-ethereum-price-analysis">Ethereum Price Analysis</h2>  
<p>In the 4-hour chart, the Ethereum price action showcases a rising channel pattern containing a bullish trend. Within the channel, the Ethereum price action showcases a breakout of crucial resistance at $3,700.&nbsp;</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/05112116/image-7-1024x509.webp" alt="Ethereum Price Analysis" class="wp-image-389415">
</figure>  
<p><a href="https://www.tradingview.com/x/S3uF05Sk/" target="_blank" rel="noopener noreferrer nofollow">Tradingview</a></p>  
<p>With 7 consecutive bullish candle streaks, the Ethereum price surged nearly 9% from the local support trendline and the 50-EMA line. The bullish turnaround started with the Morningstar pattern and peaked at $39.06.&nbsp;</p>  
<p>However, with the Morningstar reversal, the current 4-hour candle showcases two doji formations. With an extended price range, the candles are retesting the broken supply zone. This increases the possibility of a post-retest bounceback to challenge the overhead resistance trendline.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-ethereum-technicals-and-price-targets">Ethereum Technicals and Price Targets</h2>  
<p>Based on supporting the bullish trend at hand, the MACDs and signal lines have given a positive crossover with a boost in bullish histograms. Furthermore, the positive alignment of the 20-day and 50-day EMA are acting as dynamic support levels.&nbsp;</p>  
<p>Hence, a bullish trend in Ethereum is likely to surpass its current 52-week high and challenge the overhead resistance trendline near $4100. On the flip side, the crucial resistance-turned-support zone at $3750 will likely absorb any surge in supply pressure.</p>  
<p>Will the bull run in ETH surpass $5,000? 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-1733377829648"><strong class="schema-faq-question">Can Ethereum hit a new 52-week high?</strong>
  <p class="schema-faq-answer">Yes, Ethereum is on track to break its 52-week high. The next target is $4,100, but it faces major resistance there.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1733377834649"><strong class="schema-faq-question">What is Ethereum’s key support level?</strong>
  <p class="schema-faq-answer">The key support level for Ethereum is $3,750. If the price drops, this zone should help hold the bullish trend intact.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1733377834837"><strong class="schema-faq-question">What is Ethereum’s current price?</strong>
  <p class="schema-faq-answer">Ethereum is trading at $3,829, showing strong momentum toward the $4,100 target.</p>
 </div>
</div>

Ethereum Price Prediction (Dec 5th 2024)

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