|

Ethereum Price Prediction: $1000 ETH incoming

  • Ethereum price is down by 6% on the month.
  • ETH bulls face resistance from a previous support zone. 
  • A breach above the mid-$1,230 level could create the potential for a recovery rally. 

Ethereum price is facing significant resistance going into the final trading weekend of December. Investors may want to prepare for a $1,000 ETH price in the coming weeks. Key levels have been defined to gauge when how the anticipated downswing would look.

Ethereum price underwater

Ethereum price is undergoing strong suppression as the bears deny entry to the mid $1200 barrier. On December 25, ETH sitt 6% below the monthly open, adding an 8% decline to last week's closing price. As the ETH price consolidates, the decentralized smart-contract token shows little remorse for early bulls in the market. On the daily time frames, bearish engulfing candlesticks are prevalent, with slight upticks in volume, suggesting ETH is on its way further south. 

Ethereum price currently auctions at $1,210. On December 16, The bears produced a daily closing candlestick beneath the $1,230 zone causing a 3% loss from the average market value. The breach is a clear warning signal as the zone was essential in providing support during ETH's 30% uptrend rally in October.

The bulls have attempted to regain access to the vital support zone but have been denied on several occasions following the breach. If market conditions persist, the nail in the coffin may already be in. A sweep of the weekly low of $1,163 could send ETH back to sub-1,000 price levels.

tm/eth/12/25/22

ETH/USDT 1-Day Chart

At the time of writing, the bulls will need to produce a spike and consolidation above the $1,230 zone to consider a countertrend idea. The next bullish target would be the $1,300 level and potentially $1,350. The Ethereum price would rise by 8% increase if the bulls are successful.

Author

Tony M.

Tony M.

FXStreet Contributor

Tony Montpeirous began investing in cryptocurrencies in 2017. His trading style incorporates Elliot Wave, Auction Market Theory, Fibonacci and price action as the cornerstone of his technical analysis.

More from Tony M.
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

Crypto market outlook for 2026

Year 2025 was volatile, as crypto often is.  Among positive catalysts were favourable regulatory changes in the U.S., rise of Digital Asset Treasuries (DAT), adoption of AI and tokenization of Real-World-Assets (RWA).

Meme Coins Price Prediction: Dogecoin, Shiba Inu, Pepe recover, echoing Bitcoin rebound

Dogecoin, Shiba Inu, and Pepe are trading mixed as Bitcoin records minor gains on Monday, warming sentiment across the broader cryptocurrency market. Still, the incipient recovery in Dogecoin, Shiba Inu, and Pepe remains fragile amid the prevailing downtrend.

Bitcoin consolidates as downside risks persist

Bitcoin has made only three wave rallies from the November lows, which is one of the most important indications that more weakness may still lie ahead.

Polkadot's (DOT) dips, with token underperforming wider crypto markets

DOT $1.8269 fell 2% to $1.84 over the last 24 hours. Trading volumes were 7.8% above the seven-day moving average at 7.76 million tokens, according to CoinDesk Research's technical analysis model.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.