Ether price continues to take advantage of the present situation as bitcoin traders take the sideways. Due to this, Bitcoin’s sideways trading and traders will notice that many of the altcoins are again posting double-digit gains. While this piece of the news, almost every altcoin price gain some positive ups. THETA is up 13.26% whereas KyberNetwork accelerates to 18%. TomoChain, on the other hand, goes up to 16.09%. Though Ether fails to mirror these results the altcoin is still looking to close the year with a 35% gain.

Since the last month Ether price has tracked closely below the long-term descending trendline, painting lower daily lows. As the end of 2019 is approaching, the analysts go for crosschecking and says that the drop to $139 marked the fourth time the support has been tested last month and the altcoin remains at risk of falling to the last remaining strong support at $131.61.

Explaining the Rising and Falling Trend of Ether Price

Today’s uptick in volume shows crypto bulls are keen to defend the $139 support. The price is now attempting to press against the descending trendline at $145.35 which is also aligned with a high volume node on the volume profile visible range indicator (VPVR). Despite Ether’s bearish bias, there is an opportunity for a swing trade that could kick out a 10% to 12% ROI.

If Ether can break above the descending trendline and clear the resistance at $150, the price could run through the VPVR gap to $160. This would also place Ether price within a few dollars of setting a daily higher high. If this becomes possible, then we’ll see something not seen since the drop from $163 in the last month. However, traders will notice that the moving average confluence divergence (MACD) histogram shows a steady increase in momentum. And the MACD continues to pull away from the signal line.

Ether Struggles to cross above the 12-period exponential moving average and the descending trendline. But the Chaikin Money Flow oscillator has risen above zero. The MACD appears to be on the verge of a bull cross and the RSI bounced from oversold territory and is en-route to 46. Hence, Ether simply needs an increase in buy volume to push through the high volume node at $146.

BTC/ETH Pair Showing Traders the Signs of Price Raise

For a change, Ether’s set up on the BTC/ETH pair is quite similar to the USD/ETH pair. The price has also been capped between the 12-point EMA and descending trendline at 0.020190 (sats).

Ether price briefly popped above the descending trendline earlier today and traders will notice the bull cross on the MACD. The present report shows that the indicator’s histogram has flipped green and is currently above zero. The relative strength index has entered the bullish territory and at the time of writing. It is climbing above 53.

The 0.019577 (sats) support has held well but Ether will have a tough time taking gaining above 0.020829 (sats). Traders might consider waiting for the price to reach 0.021101(sats) or a higher high at 0.021781(sats) before considering an entry.

The same can be said for the USD/ETH pair. Crypto Traders might consider waiting until Ether clears the descending trendline to set a higher high above $152. Alternatively, buying the dip on pullbacks to the $138.57, $131.50 has also proved profitable so traders might consider waiting for less risky entry at either of these supports.

What do you guys think about the Ether price trend? Can it surprise you by the end of Christmas? Do let us know in the comment section…