Ethereum Price Prediction Daily (22-Dec): ETH Bearish Prediction Playing Out! What Now?

Ethereum Price Prediction Daily (22-Dec): ETH Bearish Prediction Playing Out! What Now?

Alt coin
December 22, 2022 by secret
69
Ethereum bearish price prediction from a previous analysis ETH Trading Around This Minor Zone! Can It hold? In our previous Ethereum analysis ETH Trading Around This Minor Zone! Can It hold? we warned our readers that the Ethereum sell-off still looks far from over and we expect to see bearish pressure come into the market
1250-key-zone.png


Ethereum bearish price prediction from a previous analysis ETH Trading Around This Minor Zone! Can It hold?

In our previous Ethereum analysis ETH Trading Around This Minor Zone! Can It hold? we warned our readers that the Ethereum sell-off still looks far from over and we expect to see bearish pressure come into the market soon.

We also talked about the $1,250 minor resistance zone Ethereum is currently trading around and how there was a very high probability for this zone to hold!

Well, that prediction is currently playing out now! The Ethereum price has been rejected from this $1,250 key zone and we are now seeing the Altcoin push lower.

In this Ethereum analysis, we will be updating our views on Ethereum and talking about the most important things we are currently watching in the 4-hour timeframe.

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $30,000 Bonus + Zero Spot Fees for trading when you sign-up and fund your Bybit account with our Bybit link

Claim up to $30,030 in Bonus

Are The Ethereum Sellers Back?

We are currently seeing an influx of bearish momentum in the Ethereum market, this is a great indication that the ETH sellers might be back and ready to resume the bearish push to the downside in the coming days.

The pattern still confirming this bearish bias in Ethereum is the Ascending Channel Pattern we have been tracking for the past few weeks now! This pattern is still very valid, and there is a very high probability that we might see the Altcoin price crash to our bearish target of $1,070 before we face any new major support in the 4-hour timeframe.

The image below is what that sell-off could look like. And in the coming days, we will be keeping a close eye on the development of the price action to see if Ethereum eventually follows through.

ETH Bearish Prediction Playing Out! What Now? Watch these key levels in the 4-hour timeframe
ETH Bearish Prediction Playing Out! What Now? Watch these key levels in the 4-hour timeframe

Claim up to $30,030 in Bonus

In Other News…

Ethereum just got booted from Paxful!

Paxful one of the leading Peer-to-Peer cryptocurrency marketplace (with over 11.6 million users) have just announced they have “officially delisted and removed Ethereum from its platform”

“We finally kicked Ethereum off our marketplace. 11.6m humans safer. Integrity over revenue 🤝🏽 Who is next ?” Paxful CEO Ray Youssef tweeted

Some of the reasons he gave for this decision include:

The lack of decentralization caused by the Ethereum network switch from proof-of-work to the proof-of-stake processing method.

In his words, this switch makes Ethereum a digital fiat “Ethereum is controlled by a small group of people, and one day you will need permission to use it” Youssef tweeted

He also called Ethereum a project destined to fail due to its poor design while praising Bitcoin as the only true money and the way to true freedom.

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:

★★★★★

★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

★★★★★

★★★★★

Rating: 89%

Claim up to $4100 in Bonus

★★★★★

★★★★★

Rating: 91%

Claim up to $7000 in Bonus





Source link

Add a comment