ETHUSD Crypto Weekly Technical Analysis - Saturday, December 2

By Frano Grgić of GetKnowTrading

Forex trader, Market Analyst • Dec 1, 2023 at 11:15 PM EST

Ethereum is currently on the breaking point to the upside where the price needs to break above 2127.00 in order to continue to move to the next resistance level which is 2400.00.

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Ethereum is currently on the breaking point to the upside where the price needs to break above 2127.00 in order to continue to move to the next resistance level which is 2400.00.

The price needs to make a breakout on the daily time frame and for now, there are potential signals that are suggesting that.

We have an uptrend channel on the daily timeframe where the price is trying to break above.

So we have a confluence of the resistance currently that is holding the price.

This level is also an important level in the weekly time frame. So if the price manages to break in the next two days until the week ends it will be a great starting point for the price to move to higher price levels.

Before reaching 2400.00 the price will likely stop at 2200.00 which is the first resistance level.

From there we could see the price making a retrace down to 2127.00 to confirm bullish breakout.

But, before anything let's wait until the week ends and bulls make a breakout to the upside.

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