Ethereum Weekly Price Forecast – Ethereum Looks Ready to Go

Ethereum Forecast Video for 26.12.23

Ethereum Weekly Technical Analysis

The Ethereum market fell initially during the course of the trading week, dropping down to the $2100 level. The $2100 level is a major support level, and you can see that it previously had been a major resistance barrier. The fact that we turned around to form a hammer for the 2^nd week in a row suggests that we are in fact going to eventually go higher, and if we can break above the top of the last couple of candlesticks, it’s very likely that Ethereum will run to the $2500 level, and then possibly to the $2750 level.

If we were to turn around and break down below the $2000 level, that could send the market lower, but keep an eye on Bitcoin, because in general this is a market that will continue to see its cues taken from the Bitcoin market. All things being equal, this is a situation where I think you continue to buy dips, but this next week could be a little bit odd due to the fact that it is between Christmas and New Year’s Day.

In general, this is a situation where we continue to see a lot of noise, and therefore I think we’ve got a scenario where Ethereum goes much higher, and of course with the upcoming year seeing a lot of liquidity being pumped into the system by the Federal Reserve, then it does make sense of people will run toward cryptocurrency in order to pick up some type of return. It should be a good year for crypto, and Ethereum of course is the backbone of many other ecosystems, so it might be a good way to play the upcoming crypto boom.

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