Ethereum (ETH) Price Prediction for December 29

Bulls are trying to be back in the game on the last day of the week, according to CoinMarketCap.

ETH/USD

The rate of Ethereum (ETH) has risen by 1.86% since yesterday. Over the last seven days, the price has almost not changed.

On the hourly chart, the rate of the main altcoin has made a false breakout of the local resistance of $3,409. If it keeps falling, traders may witness a test of the support of $3,375 by tomorrow.

On the bigger time frame, the situation is neutral as the price is far from the main levels. The volume keeps going down, which means neither buyers nor sellers are ready to seize the initiative at the moment.

In this case, one should not expect sharp ups or downs shortly.

From the midterm point of view, it is too early to think about a reversal despite the possible bullish weekly closure. If the bar closes around the current prices, ongoing sideways trading is the more likely scenario.

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

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