12-Hour Analysis:
Big Picture: Ethereum’s base foundation is now starting to look strong and could lead price into a breakout of the pattern. Bulls are now holding firm, and if this momentum keeps going, prices will likely shoot higher as Ethereum enters an aggressive phase once more. However, profit-taking is advised as the price approaches the recent highs and weekly levels.
![](https://bkcryptocrusher.com/wp-content/uploads/2023/12/ETH-12H-21st-Dec-1024x502.png)
On the Upside the initial resistance level for Ethereum is 2260. This level was posing challenges for the pair, and as soon as bulls get acceptance above it, a significant push higher remains in the cards, likely breaking 2280 easily and aiming for 2320, followed by 2380 to 2405 levels. Meanwhile, profit-taking at recent highs is to be expected; but, if optimism prevails, Ethereum may advance further into the 2480 to 2500 range.
On the Downside 2220 is a very recent addition towards the supports. Meanwhile, the next support levels are 2180 to 2170 levels, as well as the 12-hourly EMA-50. All of these are significant supports for the session and are expected to maintain the price intact for the prevailing session.