ETH Price Holds Steady With Neutral Momentum Signals
Ethereum (ETH) prices remained lower than expected in December, disappointing many who expected the price to remain above $4,000. Despite this, ETH is still up nearly 6% over the past seven days, showing some signs of resilience.
this relative strength index It has remained neutral for a week, reflecting a lack of strong momentum, while whale activity has stabilized near its highest level since September. With the price consolidating between $3,523 and $3,220, ETH’s next move depends on breaking through key resistance levels or holding key support levels.
ETH RSI has remained neutral for a week
Ethereum The Relative Strength Index (RSI) currently sits at 50.21, still in neutral territory, having been trading between 35 and 55 since December 20.
This suggests that ETH price action over the past week lacked significant momentum in either direction, reflecting a period of consolidation.
RSI is a momentum indicator that measures the strength of price changes on a scale from 0 to 100. Readings above 70 usually indicate overbought conditions, signaling a potential price correction, while readings below 30 indicate oversold conditions, which could lead to a recovery in prices.
Ethereum The RSI is at 50.21, indicating that the market is in balance and neither buyers nor sellers are exerting strong control.
Ethereum whales dip slightly but remain high
On December 25, the number of addresses held was at least 1,000 Ethereum It reached 5,634, the highest level since September. It then dropped slightly to 5,631 on December 26.
The rise comes after hitting a monthly low of $5,565 on November 28, highlighting a gradual recovery in major shareholder activity.
Tracking behavior Ethereum Whales are important because they control large amounts of liquidity, so their holdings and movements often influence the market.
The current stability at higher levels indicates that large investors maintain confidence in ETH, which may support its price in the short term. However, the small decline also signals caution, meaning Ethereum price Barring a decisive shift in whale behavior, range-bound trading is likely.
ETH Price Prediction: Consolidation Before New Breakout?
Ethereum price It is currently trading within a range, with resistance at $3,523 and support at $3,220. Its EMA line shows a downward trend, with the short-term moving average below the long-term moving average.
However, the weakening of this trend suggests that ETH may be entering a consolidation phase rather than continuing its decline.
if Ethereum price After breaking the resistance at $3,523, it may target higher levels at $3,827 and possibly even a rise to $3,987.
Conversely, if the $3,220 support is tested and fails to hold, the price could drop further to $3,096, a key level for potential stabilization.
Disclaimer
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