Ethereum

bullish

<p>Regarding broader metrics, Ethereum's market cap is currently valued at $469.67 billion, with an impressive 50.30% gain over the last 30 days. Furthermore, its 24-hour trading volume is $53.59 billion, reflecting robust market activity.</p>   
<p>Will the rising demand for ETH result in a new 52-week high this week? Let's find out.</p>   
<h2 class="wp-block-heading" id="h-ethereum-price-analysis">Ethereum Price Analysis</h2>   
<p>On the 4-hour chart, Ethereum’s price action reveals a rising channel pattern, indicating a bullish trend. Within this channel, the ETH price has successfully broken through a significant resistance level of $3,900, with its current price at $3,899.58.</p>   
<figure class="wp-block-image size-large">
 <img src="https://image.coinpedia.org/wp-content/uploads/2024/12/06130457/image-10-1024x509.webp" alt="Ethereum Price Analysis" class="wp-image-389944">
</figure>   
<p><a href="https://www.tradingview.com/x/KkbBzqF0/" target="_blank" rel="noreferrer noopener">Tradingview</a></p>   
<p>Ethereum has witnessed a remarkable ~10% surge following a bounce from the local support trendline and the 50-EMA line, propelled by a bullish streak of seven consecutive green candles.&nbsp;</p>   
<p>However, the current 4-hour candle displays two Doji formations, signaling indecision as the price extends its range. Further, it shows a post-retest reversal of the recently broken supply zone.&nbsp;</p>   
<p>This retest reversal began with the Morning Star pattern, driving the price to a peak of $3,914, creating a bullish engulfing candle. Over the past 24 hours, Ethereum has gained 1.35%, with a 7-day increase of 8.80%, highlighting the ongoing bullish sentiment.</p>   
<h2 class="wp-block-heading" id="h-ethereum-technicals-and-price-targets">Ethereum Technicals and Price Targets</h2>   
<p>The MACD indicator has avoided a bearish crossover, accompanied by a resurgence of positive histograms, supporting the ongoing bullish trend. Additionally, the 20-day and 50-day EMAs are maintian a positive trend, acting as dynamic support levels.</p>   
<p>Ethereum is poised to surpass its current 52-week high and approach the overhead resistance trendline near $4,100. Conversely, the recently flipped resistance-turned-support zone at $3,750 is expected to cushion any potential 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="noreferrer noopener">ETH price prediction</a>!</p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<ol class="wp-block-list">
  
 <li>Can Ethereum surpass its 52-week high?<br>Yes, Ethereum is on track to surpass its 52-week high. The next resistance level is $4,100, and it has the potential to reach $5,000.</li>   
 <li>What is Ethereum's current price?<br>Ethereum is trading at $3,899.58, up 1.35% intraday and 8.80% over the last seven days.</li>   
 <li>What is Ethereum's key support level?<br>The critical support level is at $3,750, which is expected to cushion any supply pressure and sustain the bullish momentum.</li> 
</ol>

Ethereum Price Prediction (Dec 6th 2024)

Table of Contents

CoinPedia News

Other articles published on Dec 6, 2024

Trump Rescues USA (TRUMPUSA) Solana Memecoin to Explode 18,000% Before Exchange Listings, While S...

XRP Ledger Powers Institutional Finance with AMM and RLUSD Advances

Crypto Rally Over? Here’s Why Bitcoin Price Dropped Below $100K

Why BTFD’s $1.1M Success Sets It Apart as the Best Meme Coin with 100X Potential as BOM’s Fun Vib...

11 Trillion Shiba Inu (SHIB) in 24 Hours: What to Expect

Former NY Fed President Argues Bitcoin Could Undermine USD, Suggests Prioritizing Regulatory Fram...

Join our free newsletter for daily crypto updates!