The post Ethereum Price Prediction (Dec 3rd 2024) appeared first on Coinpedia Fintech News
As Bitcoin remains stagnant at nearly $96k, the bullish trend in the Ethereum price halts slightly above $3600. Struggling to pick up pace, the ETH price trend consolidates between 20 and 50 EMA lines in the 4-hour chart.
Based on the current price action, a breakout of either EMA line will determine the upcoming trend. Let’s find out more in this Ethereum price prediction.
Ethereum Price Analysis
On the 4-hour chart, ETH price action reveals a rising channel pattern. The support trendline is in confluence with the 100 EMA line of the 4-hour chart.
Despite the quick bullish movements in the rising channel, the ETH price failed to breach the critical resistance at $3,750. This has led to the ongoing bearish reversal characterized by a dome-shaped pattern.
Tradingview
The Ethereum Price had retraced to $3556 last night to test the 100 EMA line and the local support trendline. T
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