🥰🥰ETH Price Analysis as of December 18, 2024
🤩As of December 18, 2024, ETH is trading around $3,867, down about 3.68% from the previous day.
🤩Technical Analysis:
Support:
$3,750: The nearest support level, where buying pressure may emerge if the price continues to adjust.
$3,500: The next support level, reinforcing the upward trend if the price drops further.
🤩Resistance:
$4,000: The nearest resistance level, corresponding to the recent highest peak.
$4,500: The next target if the upward momentum continues.
🤩Momentum Indicator:
RSI: Approaching the overbought territory, indicating the potential for a correction or consolidation in the short term.
🤩Assessment:
Ethereum reaching new highs in 2024 indicates a strong upward trend, supported by factors such as:
Institutional Capital Flow: Investment funds and large financial institutions continue to show interest and invest in Ethereum, reinforcing confidence in this asset.
Technological Development: Upgrades and improvements in the Ethereum network, such as Ethereum 2.0, continue to attract the attention of the community and investors.
