Ethereum stayed below $3,500, trading sideways in a low-momentum market below the 75-period SMA. A Dip below the immediate support at $3,300 can trigger the downtrend, targeting $3,210, followed by $3,100.
Ethereum Technical Analysis – 30-December-2024
Ethereum has been in a bear market, below the 75-period simple moving average, and has lost 4.0% of its value since December 24. However, the selling pressure eased at $3,300.
As of this writing, the cryptocurrency trades at approximately $3,400, testing the 75-SMA as resistance.
ETH Stayed Below $3500: Will the Downtrend Continue?
The immediate support is at $3,300. From a technical perspective, the downtrend could extend to lower support levels if bears (sellers) push ETH/USD below $3,300.
If this scenario unfolds, the next bearish target could be $3,210, followed by $3,100.
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The Bullish Scenario
The immediate resistance is at $3,500. From a technical perspective, the uptrend from $3,100 will likely resume if the value of ETH exceeds $3500. In this scenario, the next bullish target could be $3,640.
Ethereum Support and Resistance Levels – 30-December-2024
Traders and investors should closely monitor the ETH/USD key levels below to make informed decisions and adjust their strategies accordingly as market conditions shift.
| Ethereum Support and Resistance Levels – 30-December-2024 | |||
|---|---|---|---|
| Support | $3,300 | $3,210 | $3,100 |
| Resistance | $3,500 | $3,640 | $3,770 |