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  • elrond-erd-2MultiversX (EGLD) $ 45.64 0.26%
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Ethereum (ETH) Price Analysis for December 3


The cryptocurrency market is currently neutral as neither buyers nor sellers are controlling the situation.

Top 10 coins by CoinMarketCap

ETH/USD

Ethereum (ETH) is looking worse than Bitcoin (BTC), going down by 0.35% since yesterday.

ETH/USD chart by TradingView

After the false breakout of the local support level at $1,267, the price of Ethereum (ETH) remains weak, which means that there is a high chance to see a retest.

If that happens, the fall may continue to the $1,250 zone.

ETH/USD chart by TradingView

The situation is similar on the daily chart, as Ethereum (ETH) is about to close below yesterday’s low at $1,264. In this regard, there is a high probability to see a decline to the closest support at $1,233. Such a scenario is relevant until the end of the upcoming week.

ETH/USD chart by TradingView

The weekly time frame gives traders hope for midterm growth. It can only occur if the bar closes near the $1,290 mark or above. All in all, the strength might be enough for a price blast to the $1,350-$1,400 area. Thus, the selling volume is low, confirming bears’ weakness.

Ethereum is trading at $1,271 at press time.



Read More: Ethereum (ETH) Price Analysis for December 3

Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

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