Ethereum Technical Analysis Report | 27th-December-2022

Crypto markets are trading at record-low volatility as investors have largely stayed away during the holiday season. The bears attempted to move Ether towards the support of $1,150 on Dec 25, but the long tail on the candlestick shows the bulls are buying on minor dips. Buyers are currently trying to catapult the price above the moving averages. The asset price had a marginal increase of less than 1% while the global volume has fallen by 17.3%. Ether’s dominance is at 18.42%.

At the time of writing, ETH was trading at $1,224.

Ethereum Chart | 27th December 2022
Ethereum (ETH) Chart

ETH after resisting at $1,350 witnessed a profit booking and the prices dropped to $1,151. The asset consolidated at these levels and showed some momentum and went up to $1,240 but with low volumes. Post this move, ETH has been trading in a narrow range from $1,190 to $1,240 forming a series of small Doji candles indicating more sideways movement. $1,150 and $1,000 will act as strong support whereas $1,350 – $1,400 will act as strong resistance. Breakouts on either side of these levels with good volumes will further decide the trend for the asset.

  Support 2Support 1AssetResistance 1Resistance 2

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