The exchange rate of one of the most popular digital currencies, unlike to bitcoin or litecoin, is relatively close to the last peaks, suggesting that at the beginning of next year it is this currency that will have the biggest chance of breaking a new historical peaks. Currently, the key resistance seems to be the level of 750 USD, the break of which opens the way to the establish a new peaks.

Picture 1. Technical analysis, ethereum, H4,29.12.2017

In the case of defense of the abovementioned resistance, I expect that the price will remain in consolidation until the end of the year with the lower limit in the price region of 670 USD. This scenario seems to be the most likely in the short term.

Picture 2. Technical analysis, ethereum, H1,29.12.2017

If the price will be able to break down from the mentioned consolidation, there is a risk of a larger correction. Then the maximum reach for the supply side will be the area of support already tested in in area of the round level of 500 USD.

Risk Warning: The contents of this analysis is for informational purposes only and does not constitute investment advice.

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