Ethereum Price Prediction Daily (01-Dec): Ethereum Price Pushing Up! But For How Long?

4:33 pm, Thu, 1 December 22

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Ethereum price prediction from a previous analysis Ethereum Trading Back At This Level. What Now?

In our previous Ethereum analysis Ethereum Trading Back At This Level. What Now? we talked about the $1,233 key level and how it was a major resistance the bears were struggling to hold on to.

Well, the Ethereum price has spiked through that key resistance. This spike in price saw a massive rally follow in the Ethereum lower timeframe.

But how long can this rally last? Right now, Ethereum is already running into another major resistance in the 1-hour timeframe. How the price reacts to this $1,417 resistance region will affect the trend the Altcoin will take in the coming days.

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Ethereum Running Into Major Resistance In The 1-hour Timeframe.

Ethereum Price Pushing Up! But For How Long? Watch this key resistance in the 1-hour timeframe
Ethereum Price Pushing Up! But For How Long? Watch this key resistance in the 1-hour timeframe

The Ethereum price is currently trading around a major resistance zone in the 1-hour timeframe. This resistance zone is a major level where we expect to see Ethereum sellers begin to re-enter the market and resume the push low for the Altcoin price.

So for the coming days, we will be keeping a close eye on this $1,417 resistance zone to see how the Ethereum price will react to this major level.

What Next For Ethereum?

Ethereum Price Pushing Up! But For How Long? Watch this key resistance in the 1-hour timeframe
Ethereum Price Pushing Up! But For How Long? Watch this key resistance in the 1-hour timeframe

The Ethereum price still has a few levels it needs to break through to enter into a bullish market. One of those levels is the ETH $1,417 key resistance zone in the 1-hour timeframe.

We expect to see Ethereum begin to face more bearish pressure from this area in the coming days. This bearish pressure has a very high probability of pushing the Altcoin price back down to the $1,067 previous support in the 1-hour timeframe.

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