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Price analysis of Ethereum (ETH) – 21 November



Ethereum, ETHUSD, CryptoCompare chartEthereum chart from the view of trading

ETHUSD Medium-term trend: bearish

Resistance levels: $ 230, $ 240, $ 250

Support levels: $ 130, $ 120, $ 110

On November 20th, the price of Ethereum was in a bearish trend. On November 14th, ETH had a bearish breakout when the price was offset by the 12-day EMA and the 26-day EMA. This caused a decline in the encryption price to a minimum of $ 133.85. Today, the price of the crypt is in a bullish movement.

Meanwhile, the price of Ethereum is lower than the 12-day EMA and 26-day EMA, indicating that it is in the bearish trend zone. From the stochastic indicator, the price impetus is included in the interval below 20. This is the downward momentum of Ethereum is strong. The downward momentum of Ethereum will remain strong as long as the Stochastic blue and red bands remain in the oversold region.

ETHUSD Short-term trend: variable

Ethereum, ETHUSD, CryptoCompare chartEthereum chart from the view of trading

On the short-term trend, the price of Ethereum is in a lateral trend. From price action, the bearish model no longer produces a series of lower and lower lows. Rather, the price of the crypt goes beyond the price level of $ 134. In addition, the stochastic is in the range above 20.

This indicates a purchase signal because the Stochastic blue band is above the red band. It also implies that the current trend has been reversed.

The opinions and opinions expressed here do not reflect that of CryptoGlobe.com and do not constitute financial advice. Always do your research.


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