Altcoins continue to have advantage of Bitcoin's sideways trading and traders who accept a quick glance at the altcoin-to-Bitcoin pairings at their exchange of choice will observe that many of the altcoins are once more posting double-digit gains.

At the fourth dimension of writing, THETA is up thirteen.26%, KyberNetwork (KNC) 18% and TomoChain (TOMO) has rallied sixteen.09%. Ether (ETH) has failed to mirror these results but as the end of the 2022 approaches, the altcoin is yet looking to close the year with a 35% proceeds.

Crypto market weekly performance. Source: Coin360

Since November. 27 Ether (ETH) price has tracked closely below the long-term descending trendline, painting lower daily lows. The Dec. 12 drop to $139 marked the fourth fourth dimension the support has been tested since November. 22 and the altcoin remains at gamble of falling to the last remaining strong support at $131.61.

Today's uptick in volume shows bulls are keen to defend the $139 back up and the price is at present attempting to printing 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 merchandise that could kick out a 10% to 12% return on investment.

ETH USD daily chart. Source: TradingView

If Ether tin can interruption to a higher place the descending trendline and articulate the resistance at $150, the price could run through the VPVR gap to $160. This would likewise place Ether cost within a few dollars of setting a daily higher high, something non seen since the drop from $163 on Nov. 24.

Ether toll is too approaching the moving average of the Bollinger Band indicator at $148 and the upper band is at $155. Traders will notice that the moving average confluence deviation (MACD) histogram shows a steady increase in momentum and the MACD continues to pull abroad from the point line.

ETH USD 6-60 minutes chart. Source: TradingView

Equally shown by the 6-hour nautical chart, Ether struggles to cantankerous higher up the 12-period exponential moving average and the descending trendline but the Chaikin Money Menses (CMF) oscillator has risen higher up 0. The MACD appears to be on the verge of a balderdash cross and the RSI bounced from oversold territory and is en-route to 46.

Ether but needs an increase in buy book to push through the high volume node at $146.

ETH/BTC pair bear witness signs of life

ETH BTC daily chart. Source: TradingView

For a change, Ether's ready on the ETH/BTC pair is quite similar to the ETH/USD pair. The price has besides been capped betwixt the 12-point EMA and descending trendline at 0.020190 (sats).

Earlier today Ether price briefly popped above the descending trendline and traders will discover the balderdash cantankerous on the MACD and that the indicator's histogram has flipped dark-green and is currently above 0. The relative strength index (RSI) has entered bullish territory and at the time of writing, information technology is climbing above 53.

The 0.019577 (sats) back up has held well simply Ether volition have a tough time taking gaining higher up 0.020829 (sats). Traders might consider waiting for the toll to achieve 0.021101(sats)or a higher loftier at 0.021781 (sats) earlier considering an entry.

The same tin can be said for the ETH/USD pair. Traders might consider waiting until Ether clears the descending trendline to set up a higher high to a higher place $152. Alternatively, ownership the dip on pullbacks to the $138.57, $131.l has also proved profitable so traders might consider waiting for less risky entry at either of these supports.

The views and opinions expressed here are solely those of the author (@HorusHughes) and do not necessarily reflect the views of Cointelegraph. Every investment and trading motion involves run a risk. You should conduct your ain research when making a decision.