Ethereum (ETH) Price Analysis for December 28

Bulls could not hold the initiative for a long time and, again, most of the coins are in the red zone.

ETH/USD

Ethereum (ETH) is more of a loser than Bitcoin (BTC), falling by almost 2% over the last 24 hours.

On the hourly chart, Ethereum (ETH) is trading in the middle of a narrow range, between the support at $1,187 and the resistance at $1,197.

If the bar closes near the $1,197 mark, bulls might again test the $1,200 zone tomorrow.

On the bigger time frame, traders should pay attention to the interim support level at $1,196.50. If the daily bar closes below it, the fall may continue to another level at $1,182.

Ethereum (ETH) is also bearish on the chart against Bitcoin (BTC), as the price is coming back to the support at 0.071493. If the breakout occurs, the decline may lead to the test of the 0.071 area until the end of the week.

Ethereum is trading at $1,195 at press time.

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