Ethereum Price Prediction: The Ethereum(ETH) price breakdown from the $1237-$1222 support encourages prolonged correction. The coin is currently going growth through a retest phase which will validate whether the prices could sustain this breakdown or not. How far may this potential downfall may pull the ETH price?
Key points:
Following the temporary pullback, the ETH pre poised for an 11% fall and surpass the $1160 support
The 20-day EMA wobbling near the $1222 barrier gives an additional hurdle against a potential rally
The intraday trading volume in Ether is $4.45 Billion, indicating a 39% loss
Source- Tradingview
Following the recent downfall, the Ethereum price has shown suitability above local support of $1160. Amid recent uncertainty, the price hovered above this support for around three days, indicating this level as an active support zone.
On December 20th, the Ethereum price jumped from this support with a bullish candle of 4.5% intraday gain. However, this minor relief ral
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