Ethereum Price Analysis — December 15

ETH regained a mild bullish momentum on Wednesday morning after slumping below the critical $3,970 - $3840 pivot support area on Monday and hitting the $3,669 low for the first time since October 18. At press time, the second-largest cryptocurrency has reentered the pivot area and trades at $3,882, putting the $3,800 support line beneath it again. That said, the market remains bereft of clarity, making it difficult to map out a possible next move. However, with the current bullish correction recorded across the market, we could see ETH near the $4,000 barrier over the coming days. Also, the upcoming US Fed meeting should contribute to the near-term price action of Ether.

Meanwhile, my resistance levels are $3,970, $4,000, and $4,100, and my support levels are $3,840, $3,800, and $3,700.

Total Market Capitalization: $2.21 trillion

Ethereum Market Capitalization: $460.9 billion

Ethereum Dominance: 20.8%

Market Rank: #2