Ethereum Price Forecast for December 5: What's Next After ETH Surges Past Bollinger Band Resistance?

Ethereum's recent breakout from Bollinger Band resistance indicates bullish momentum, but analysts are anticipating a potential 30% price swing.

Key Takeaways

Ethereum (ETH) opened 2026 with a price peak of approximately $3,209.
The cryptocurrency displayed an overall positive trend following a volatile period.
ETH has seen a modest increase of 0.5% within the last 24 hours, maintaining upward momentum.
Technical analysis shows Ethereum has broken through the Bollinger Band resistance, suggesting potential for further gains.
Analysts predict a possible 30% price movement, either up to $4,096 or down to $2,206.

Ethereum (ETH) began the first Monday of 2026 on a high note, reaching a price of about $3,209. Despite some market volatility, investors are cautiously re-establishing positions, leading to a general positive trend for the crypto. Throughout the day, Ethereum's price fluctuated between a low of around $3,120 and its peak, showcasing a nuanced balance of market caution and optimism. In the last 24 hours, the cryptocurrency recorded a 0.5% increase, reflecting consistent upward movement despite some minor pullbacks.

When we evaluate Ethereum's performance over a longer timeframe, we observe a 4.1% increase in the past week and a 4.7% rise over the last two weeks. The future direction of Ethereum will hinge on maintaining this bullish sentiment in the market.

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Technical Analysis: Breaking Through Bollinger Band Resistance

In reviewing the technical charts, Ethereum has successfully surpassed the Bollinger Band resistance. The upper band, currently situated around $3,160, has been breached, indicating a strong upward trend and the potential for a continuation of this rally.

Ethereum Daily Chart

This breakout indicates growing bullish sentiment, with traders eyeing the next target at the $3,200 level. Additionally, the Stochastic RSI indicator at the chart's bottom adds to this optimistic view, currently showing overbought signals (100), which suggest that momentum remains strong and may persist in the short term. However, being in the overbought range indicates that the asset could be nearing its temporary peak, which might lead to a pullback or consolidation as momentum eases.

Caution is warranted, as Ethereum's price hovers near the upper limit of the Bollinger Band, potentially acting as resistance if ETH attempts to continue rising. On the support side, the lower Bollinger Band at approximately $2,806 serves as a strong support level that Ethereum might reach in the event of a downturn.

Is a 30% Price Movement on the Horizon?

Expert analyst Ali Martinez has observed that Ethereum is currently in a consolidation phase, characterized by its price movement contained within a symmetrical triangle pattern. Martinez indicates that this consolidation could lead to a substantial breakout, possibly resulting in a 30% price movement in either direction.

Ethereum Prediction

If Ethereum experiences a 30% increase from its current price of around $3,151, it could rise to approximately $4,096. Conversely, a 30% decline could see Ethereum drop to around $2,206.

Disclaimer: This content is for informational purposes only and should not be interpreted as financial advice. The opinions expressed in this article may reflect the author's personal views and do not necessarily represent those of The Crypto Basic. Readers are urged to conduct their own thorough research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.