Ethereum was trading lower for most of December, but the 26th marked the beginning of a trend shift. The trend line that was respected for the better part of December, was broken on the 26th.
Although the trend line was violated, the area between 0.0021-0.00215 is still a major area of interest for traders. This zone has acted as resistance about five times this month. The market spiked above this pivot zone today, hitting a high of 0.00224174, and I think that 0.0021 is very likely to now turn as support. The 4-hour chart is also showing a Head & Shoulders pattern, which is another very bullish indicator.
Disclaimer: This is not trading/investment advice!
Chart Source: https://poloniex.com/exchange#btc_eth
If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.
Something just shifted again on the Bitcoin network, and it’s one of those things miners…
Something interesting is quietly happening in the market again, and it’s coming from a name…
At a glance, XRP’s price hasn’t done much lately. It’s been moving sideways, not giving…
At the latest “SEC Speaks in 2026” event, the U.S. Securities and Exchange Commission made…
Morgan Stanley is edging further into the crypto space after filing a second amended S-1…
Ethereum co-founder Vitalik Buterin is once again stirring conversation across the crypto space, this time…