Ethereum (ETH) Price Prediction for December 21

Buyers are trying to restore the lost initiative, according to CoinMarketCap.

ETH/USD

The rate of Ethereum (ETH) has dropped by 6.58% over the last 24 hours.

On the hourly chart, the price of ETH is approaching the local support of $3,393. If a breakout happens, the correction may continue to the $3,300 range shortly.

On the bigger time frame, bulls have failed to keep yesterday's growth. If today's bar closes around the current prices or below, there is a chance of a test of the support level of $3,252 by the end of the week.

From the midterm point of view, one should focus on the weekly candle closure.

If it happens near $3,200, traders may witness an ongoing decline the upcoming week.

Ethereum is trading at $3,406 at press time.