{"id":217599,"date":"2023-12-23T00:50:59","date_gmt":"2023-12-22T19:20:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/ethereum-price-prediction-as-bear-trap-points-to-10-surge-ahead-crypto-news\/"},"modified":"2023-12-23T00:51:03","modified_gmt":"2023-12-22T19:21:03","slug":"ethereum-price-prediction-as-bear-trap-points-to-10-surge-ahead-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-prediction-as-bear-trap-points-to-10-surge-ahead-crypto-news\/","title":{"rendered":"Ethereum Price Prediction as Bear Trap Points to 10% Surge Ahead &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-170826\">\n<p>\nEthereum Price Prediction: A failed breakdown from the support trendline of the channel pattern should increase buying momentum in ETH\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"551\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/phDRpDtB-e1703272731287.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"ETH price\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">  Published 5 seconds ago <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Ethereum Price Prediction: The recent volatility in the crypto market takes a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/us-pce-inflation-heres-why-bitcoin-crypto-market-rising-today-ahead-key-data\/\">bullish turn this week<\/a> as market sentiments show optimism for the nearing deadline of the U.S. Securities and Exchange Commission\u2019s (SEC) decision to spot Bitcoin ETF Thus, the second largest cryptocurrency Ethereum(ETH) has been rising for the past three days, reclaiming the recently lost support of channel pattern and 20-day EMAs. Will this counterattack push the Ether price to $2500?<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read:\u00a0 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/ethereum-eth-price-gearing-up-for-20-rally-amid-strong-exchange-outflows\/\">Ethereum (ETH) Price Eyeing Rally to $2,700 Amid Strong Exchange Outflows<\/a><\/p>\n<h2><strong>Here\u2019s Why the Next Leap Could Push ETH to $2500<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The ETH Price reentering the channel pattern should offer buyers with additional support to rally.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A healthy retracement in ETH price hints a strong bounce is likely<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in Ether is $16.4 Billion, indicating a 22% gain.<\/span><\/li>\n<\/ul>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Ethereum price prediction\" width=\"1946\" height=\"893\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/p\/phDRpDtB.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/p\/phDRpDtB.png\" alt=\"Ethereum price prediction\" width=\"1946\" height=\"893\"\/><\/noscript><figcaption class=\"wp-caption-text\">Ethereum price prediction| TradingView Chart<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The last ten weeks\u2019 recovery in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/ethereum\/\">Ethereum price<\/a> can be traced using a rising channel pattern. The lower trendline of this channel offered strong pullback support to buyers, assisting them in prolonging the recovery trendline.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">However, amid the third week of sell-off in the crypto market, the ETH price gave a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-eth-faces-10-downside-risk-below-this-support\/\">bearish breakdown<\/a> from the pattern\u2019s lower support. This lost surge was expected to surge selling pressure and trigger an aggressive correction.<\/span><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">However, the buyers made a counterattack with a higher volume and reentered the channel pattern. With an intraday gain of 4.5%, the ETH price is now trading at $2341 and marked the prior breakdown as a bear trap.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Thus, the traders with sellers with tight stop loss may face forced liquidation and pour additional buying orders into the market. If the coin price manages to show sustainability above the reclaimed support, the buyers may drive a 10% rally to revisit the upper trendline near $2500.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><strong>Funding Rates Surge Signals Confidence in a Climb to $2,500<\/strong><\/h2>\n<figure id=\"attachment_170827\" aria-describedby=\"caption-attachment-170827\" style=\"width: 1724px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-170827 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"ETH OI-Weighted Funding Rate\" width=\"1724\" height=\"512\" data-lazy-srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14.png 1724w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-300x89.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-1224x364.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-768x228.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-1536x456.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-150x45.png 150w\" data-lazy-sizes=\"(max-width: 1724px) 100vw, 1724px\" data-lazy-src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-170827 size-full\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14.png\" alt=\"ETH OI-Weighted Funding Rate\" width=\"1724\" height=\"512\" srcset=\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14.png 1724w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-300x89.png 300w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-1224x364.png 1224w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-768x228.png 768w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-1536x456.png 1536w, https:\/\/coingape.com\/wp-content\/uploads\/2023\/12\/image_2023-12-23_00-39-14-150x45.png 150w\" sizes=\"auto, (max-width: 1724px) 100vw, 1724px\"\/><\/noscript><figcaption id=\"caption-attachment-170827\" class=\"wp-caption-text\">ETH OI-Weighted Funding Rate: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The recent upward trend in Ethereum has been accompanied by a noteworthy increase in Ethereum Funding Rates, indicating a widespread expectation among traders for further gains, with a target of $2,500 in sight. Data from Coinglass, a prominent tracker of cryptocurrency derivatives, shows that the ETH Funding Rates surged to an impressive 0.045% last Friday. This increase in funding rates signals that traders are leaning bullish on the asset, willing to pay a premium to hold long positions. This optimistic sentiment can create a self-reinforcing effect, as the higher funding rates may attract more traders to enter long positions, expecting the price to climb<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>Bollinger Band: <\/b><span style=\"font-weight: 400;\">The narrow range in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/bollinger-band\/\">Bollinger Band indicator<\/a> reflects increasing volatility in the market.<\/span><\/li>\n<li aria-level=\"1\"><b>Average Directional Index: <\/b><span style=\"font-weight: 400;\">The daily ADX slope at 24% hints the buyers have enough steam to lead a further rally.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"MarketBottm\">\n<div class=\"Socilsm\">\n<p>\n                    Share this article on:<\/p>\n<div class=\"LinksSo\">\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.me\/share\/url?url=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-bear-trap-points-to-10-surge\/&#038;text=Ethereum Price Prediction as Bear Trap Points to 10% Surge Ahead\" class=\"TeleS\"><i class=\"fa fa-paper-plane-o\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-bear-trap-points-to-10-surge\/\" data-action=\"share\/whatsapp\/share\" class=\"TeleSwp\"><i class=\"fa fa-whatsapp\"\/><\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/share?url=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-bear-trap-points-to-10-surge\/\" class=\"tw_new_logo\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\" data-lazy-src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"18\" height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/ethereum-price-prediction-as-bear-trap-points-to-10-surge\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA170826\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD170826\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Price Prediction: A failed breakdown from the support trendline of the channel pattern should increase buying momentum in ETH Published 5 seconds ago Ethereum Price Prediction: The recent volatility in the crypto market takes a bullish turn this week as market sentiments show optimism for the nearing deadline of the U.S. Securities and Exchange [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":217600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-217599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/217599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=217599"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/217599\/revisions"}],"predecessor-version":[{"id":217601,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/217599\/revisions\/217601"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/217600"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=217599"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=217599"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=217599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}