ETH/USD May Recoup Lost Profits

Ethereum market price activities have managed to move above the Moving Average curve at a price level of $1,212. However, of late, ETH/USD has started dropping some of its previously gathered gains. But, it appears that market bulls can positively influence prices in this market once they start coming alive.

Ethereum Analysis Statistics Data:
Ethereum value now: $1,263
ETH market cap: $153.45 billion
ETH moving supply: 122.37 million
Ethereum Total Supply: 122.37 million
Ethereum Coinmarketcap ranking: #2

Key price Levels:
Resistance: $1283, $13.95, $14.25
Support: $1,263, $1,233, $1,203

Ethereum Price Prediction Today December 6, 2022: ETH/USD Price May Retest $1,313

ETH/USD portrayed a minimal downward rebound off the upper limit of the used Bollinger band indicator. The latest price candlestick on this chart has a tiny body and still lies at a significant distance above the MA of the Bollinger band. Consequently, this is telling that price action may advance in the upside direction. The RSI lines are now above the 80 mark, and it looks mangled and close to each other. Although, the RSI lines have taken a downward direction which foretells that price upward momentum is declining and may further decline, and price may fall towards $1,240. However, given the position price candles and lines of the Bollinger band, traders may still possess enough confidence to long as the price may rise toward $1,320.

Ethereum Price Prediction Today December 6, 2022: ETH/BTC Looks More Bearish

The ETH/BTC market appears more bearish, this is because price actions look more volatile here. Nevertheless, price action is still above the MA curve, but the Stochastic Relative Strength indicator curves seem to be progressing more steeply downwards. Even though price candles are above the MA line, the behavior of the RSI lines raises suspicion that price action may fall lower. Also, coupled with the fact that factors from both BTC and ETH market influences price movement here, price may fall here because of better performance in the BTC/USD market. Traders can anticipate at least a rebound off the middle limit of the Bollinger band at of 0.07290.

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