Ethereum Price Bulls Hold Strong, Indicators Suggest Fresh Rally To $1,400

Ethereum price boost defended the $1220 support level against the US Dollar. ETH is rising and may be a strong bullish wave above the $1300 resistance level. 

Ethereum Price Bulls Hold Strong, Indicators Suggest Fresh Rally To $1,400

Ethereum remained well bid and strong above the $1220 zone the price is currently trading above $1250 and the 100 hourly simple moving average. 

There was a break above a major bearish trend line with resistance near the $1245 hourly graph of the ETH/USD pair. 

The pair is showing a positive signal and my eye is on an upside break above the $1300 resistance level. 

Ethereum's price extended its decline below the $1250 level. ETH even moved below the $1240 support level and the 100 hourly simple moving average. 

The bulls were active near the $1220 support level. they defended more losses and slowly ether price moved higher there was a move above the $1240 and $1250 levels. there was a break above the 50% FIB retracement level.

It's consolidating near the 75.4% FIB retracement level of the key decline from the $1304 swing high to the $1220 low, the first major resistance is near the $1300 zone. 

ETH is indicating a green line signal on a graph, The live Ethereum price today is $1,279.76 with a 24-hour trading volume of $6,400,368,344. Ethereum is up 4.14% in the last 24 hours. The current CoinMarketCap ranking is #2, with a live market cap of $156,609,199,363. It has a circulating supply of 122,373,866 ETH coins. 

Ethereum price statistics the ETH price change in 24 hours is +$50.00 of 4.06% and 24 hour low is $1,229.37 and 24h High is $1,286.23 with 10.25% Market dominance. 

ETH 7 day low is $1,224.45 and 7 day high is $1,302.24 with The approximate return on investment is 45095.34% 

ETH Major resistance is near the $120 level above the ether price and could gain bullish for a move to $1400. 

Furthermore, If Ethereum fails to climb up the $1300 level it could start another drop and initial support on the downside is near the $1280 level. 

The next major support is near the $1220 level if there is a break and close below $1220 price could drop towards the $1200 support.

Related: Here’s Why Shiba Inu (SHIB) Price Will Fall in December