Ethereum Price Analysis — December 20

Along with most of the market, Ethereum continues to suffer intense bearish pressure as it slipped below the critical $3,800 support. The crypto giant lacked the bullish fortitude to sustain a breach above the descending trendline at $4,000 yesterday, following a goodish rebound from the $3,695 low on Friday. Despite maintaining an overall bearish momentum, ETH has fallen into a subtle sideways pattern in the last few days, as global market uncertainty prevails. As such, it remains difficult to give a clear-cut projection for the crypto asset. Nonetheless, a sustained break above the descending trendline could ease the bearish pressure on Ether, allowing bullish momentum to seep into the market again.

Meanwhile, my resistance levels are $3,900, $4,000, and $4,100, and my support levels are $3,800, $3,700, and $3,600.

Total Market Capitalization: $2.14 trillion

Ethereum Market Capitalization: $452.4 billion

Ethereum Dominance: 21.1%

Market Rank: #2