Latest Ethereum price and analysis (ETH to USD)

At the time of writing, Ethereum (ETH) is trading at around $122 following a whopping 18% decrease in price since last week.

In the past 24 hours, ETH is down over 7% in value.

The world’s second-largest cryptocurrency by market cap has been consolidating since late November, as most altcoins have been doing lately.

However, negative pressure has now caused the entire crypto market to crash.

As mentioned last week, the uncertainty around ETH’s price action could push Ethereum further down in the next few weeks.

Let’s take a look at the chart for Ethereum, courtesy of TradingView.

During the second half of the year, ETH has been attempting to consolidate and recover following the huge market downturn in the summer.

However, over the course of September and October, ETH was making a number of lower highs. Up until the end of October, it was struggling to hold on to any gains.

Then, out of nowhere, a pump pushed price towards the 50-day EMA, blasting through a key volume resistance wall…