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Ethereum, Dogecoin, MANA Price Analysis: 24 December
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As Bitcoin re-enters the $51,000 zone, Ethereum crossed the $4000-mark again while Dogecoin managed to breach the 23.6% Fibonacci resistance. Also, MANA snapped off the $3.64-mark.
However, the overall trend still needed to be supported with high volumes to confirm a strong reversal.
Ethereum (ETH)
Source: TradingView, ETH/USDT
On its 4-hour chart, ETH broke out after a month-long falling wedge as the trend reversed by forming an up-channel (white) over the past week. The largest altcoin saw an expected pullback after a bearish divergence (between RSI and price action, blue).
ETH’s demand zone and the lower channel supported this pullout as the price bounced back from it. As a result, it saw a 6.3% jump on 23 December as the bulls snapped
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