Bulls Give Momentum for Higher Low, Can It Push ETH for Higher Highs?

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• Ethereum has been trading in the red zone throughout the last seven days.
• ETH has been crashing on every occasion. The 200-day MA line formed a hump.
• The bulls give enough momentum to ETH to register higher lows but not higher highs.

Ethereum has been trading in the “red zone” throughout the previous week. Its opening market price was $1,293, as shown below in the Chart.

On December 16, ETH fluctuated between $1,260 and $1,290, but it took a deep dive during the second half of the day. ETH fell from $1,277 to $1,215 within a few hours. However, this wasn’t the bottom of the fall, as ETH tanked even further the next day.

ETH tanked to $1,162 on December 17. Following this descent, ETH consolidated its position by fluctuating between $1,160 and $1,200 until December 20. However, ETH gained some momentum, rose to $1,207, and is currently fluctuating very close to $1,220.

As of press time, ETH is down 0.05% in the last 24 hours and is trading at $1,211.56.

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