Ethereum (ETH) Price Analysis for December 14

The prices of most of the coins are going down on the last day of the week, according to CoinStats.

$ETH/USD

The rate of Ethereum ($ETH) has fallen by 0.44% over the last 24 hours.

On the hourly chart, the price of $ETH is in the middle of the local channel between the support of $3,050 and the resistance of $3,129. As neither side is dominating, there are low chances to see sharp moves by tomorrow.

On the bigger time frame, the rate of the key altcoin is far from the support and resistance levels. In this case, traders should pay attention to the interim zone of $3,000.

If a breakout happens, the decline is likely to continue to the $2,900 mark.

From the midterm point of view, the weekly candle is about to close with a long wick, which is a bearish signal. If the situation does not change by the end of the day, traders may see a test of the $2,500-$2,700 range.

Ethereum is trading at $3,091 at press time.