The article provides an analysis of the current price and trends of Ethereum (ETH). On December 14, 2024, Ethereum traded within a range of $3,851 to $3,957.89, reflecting a 20.2% drop from its peak in November 2021. The daily chart shows ongoing consolidation with support at $3,600 to $3,700 and resistance at $4,000. The market shows reduced bearish volume and smaller bullish candles near $3,800, indicating resilience despite slowing momentum.

On the 4-hour chart, Ethereum consolidates between $3,880 and $3,950. Buyers are defending the $3,800 range, but declining volume during upward moves suggests weakening buying pressure. Resistance near $4,000 has been repeatedly tested without success, leading to short-term indecision.

The 1-hour chart demonstrates Ethereum attempting to break out from the $3,880 to $3,900 consolidation. A potential higher low near $3,846.8 indicates a possible upward bounce toward $3,950. However, aggressive selling near resistance is evident in frequent volume spikes during bearish candles.

Oscillators show mixed sentiments, with the RSI at 61.2 (neutral), Stochastic at 66.3 (neutral), and MACD showing a sell signal. The awesome oscillator signals a buy, while momentum remains bearish.

Moving averages predominantly support a bullish outlook for Ethereum, with both the EMA and SMA suggesting short-term buy signals. Longer-term averages also support a bullish stance.

Overall, Ethereum's consolidation suggests a bullish case, with strong buy signals from moving averages and a defended support zone. However, caution is advised due to declining volume on upward moves and persistent selling pressure near $4,000. A failure to hold the $3,800 support level could trigger a bearish pullback.



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