Ethereum Technical Analysis: Reclaiming the 20-Day SMA Signals Renewed Bullish Momentum

Ethereum (ETH) has staged a significant technical recovery, decisively moving back above its 20-day Simple Moving Average (SMA) as of December 15th. This pivotal move signals a resurgence in short-term bullish momentum and suggests that buyers are actively defending crucial support levels. Currently trading at $3,144.21, ETH has demonstrated resilience, with the minor 1.2% dip over the past 24 hours being viewed as consolidation within a broader recovery narrative rather than a bearish reversal. The reclaiming of the 20-day SMA is a classic technical indicator watched closely by traders, as it often denotes a shift in market sentiment from bearish or neutral back to bullish over the intermediate term. This development sets the stage for a potential upward push toward higher resistance zones that have previously capped rallies. The successful defense of key support levels underscores underlying strength and accumulation by long-term holders and institutional players. Market analysts are now eyeing the next logical targets, with the immediate focus likely on resistance levels around $3,300 and then the more significant $3,500 zone. A sustained hold above the 20-day SMA, currently acting as dynamic support, will be critical for maintaining this positive momentum. The broader cryptocurrency market context, including Bitcoin's stability and institutional inflows into digital asset ETFs, provides a favorable backdrop for Ethereum's next move. Furthermore, ongoing developments within the Ethereum ecosystem, such as network upgrades and growing adoption in decentralized finance (DeFi) and non-fungible tokens (NFTs), continue to bolster its fundamental case. While volatility remains a constant feature, the current technical posture, combined with strong fundamentals, paints an optimistic picture for Ethereum as it aims to challenge higher price territories before the year's end.

Ethereum Prediction for Dec 15: ETH is Back Above 20-Day SMA, Where Next?

Ethereum has reclaimed its position above the 20-day simple moving average, signaling a resurgence in short-term bullish momentum. Buyers are firmly defending key support levels, setting the stage for a potential push toward higher resistance zones.

The second-largest cryptocurrency by market capitalization is currently trading at $3,144.21, despite a modest 1.2% dip over the past 24 hours. This price action suggests underlying strength as ETH consolidates above critical technical thresholds.