On December 25, Ethereum (ETH) turned downward from the 20-day EMA ($3,540), and on December 27, the bear market thwarted its rebound attempt.

The ETH/USDT currency pair may fall to the recent support level of $3,200. This is a key support level to watch in the near term, as if this support level fails, the currency pair could drop to $3,000 and eventually to $2,850. Buyers are expected to fiercely defend the $3,000 to $2,850 range.

Bulls must push and maintain the price above the 20-day EMA to indicate that selling pressure is decreasing. The currency pair is likely to gain momentum above $3,555 and rebound towards the strong resistance level of $4,094. #ETH走势分析