Ethereum Price Forecast – Ethereum Rallies Again

Ethereum Forecast Video for 15.12.23

Ethereum Technical Analysis

Ethereum has rallied again during the trading session on Thursday as it looks like we are going to continue to price in the idea of central bank policy loosening around the world, and if that is going to be the case, the market is likely to continue to stretch out to the very ends of risk appetite, which of course Ethereum falls into that general vicinity.

This being said, the market is likely to continue to see a short-term pullback, and that will more likely than not end up being a nice buying opportunity. The $2100 level underneath will be a floor in the market, assuming we get anywhere near there. If we do, I think a lot of buyers will jump in and pick up “cheap Ethereum” in what is a big move to the upside.

Above, I see the $2500 level being a target, and a short-term target. If we can break above there, the market is likely to continue to go higher, but that is a barrier that I think will be difficult to get above, but eventually we will. All things being equal, I believe that we are in the midst of kicking off an even more extended rally to the upside, but I also recognize that it will be very noisy. If we were to break down below the $2050 level, which is basically where the 50-Day EMA is sitting, then it would obviously be a negative turn of events, and we would have to reevaluate the entire situation. That being said, it doesn’t seem very likely to happen in the short term, so at this point I think you continue to look at this as a “buy on the dips” scenario.

Ultimately, we should also pay close attention to the Bitcoin market, because it does tend to lead the rest of the crypto world. Because of this, one should be on the Bitcoin chart, while the other should be on this one if you plan on trying to trade Ethereum. Also, keep in mind that the US Dollar could come into play as well.

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