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Price analysis of Ethereum (ETH) – 23 November



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Price analysis of Ethereum (ETH) – 23 November

Ethereum ETH-money-analysis-Nov-23

  • Cryptography is likely to fall to a minimum of $ 110 if the price level of $ 120 has been discontinued.
  • Support levels would be violated if the bearish trend continued.

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

ETHUSD Medium-term trend: bearish

Resistance levels: $ 230, $ 240, $ 250

Support levels: $ 120, $ 100, $ 80

On November 22nd, the price of Ethereum was in a bearish trend. Yesterday, the digital currency was trading at a price of $ 126.30. The price of the crypto is lower than the 12-day EMA and the 26-day EMA which indicates that the price is likely to fall. If the price falls below $ 126 without a pullback, the digital currency risks further depreciating.

In other words, cryptography should go down to the lows of $ 110 or $ 115 as the crypt is in the bearish trend zone. Meanwhile, period 14 of the relative strength index is level 17 which indicates that the price has reached the oversold region of the market, suggesting that the bulls take control of the market. There will be no commercial recommendations until the downward pressure is exhausted and we will look for the purchase settings.

Short-term trend of ETHUSD: bearish

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

On the short-term trend, the price of Ethereum is in a bearish trend. The price of the crypto is lower than the 12-day EMA and the 26-day EMA which indicates that the price tends to decrease. Meanwhile, the stochastic is in the range above 20 indicating a buy signal because the blue band of the stochastic is above the red band.

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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