Ethereum May Resume a Sideways Trend as It Faces Rejection at $1,310

Share On Facebook
share on Linkedin
Print

Key Highlights
ETH/USD rallies to the high of $1,300
Ethereum is likely to resume its range-bound zone

© Unsplash - Zotlan Tasi

Ethereum (ETH) Current Statistics
The current price: $1,288.68
Market Capitalization: $157,858,268,703
Trading Volume: $157,858,268,703
Key Resistance Zones: $2,500, $3,300, $4,000
Key Support Zones: $2,000, $1,500, $1,000

Ethereum (ETH) Price Analysis November 30, 2022
Ethereum (ETH) price is falling and has started to correct upward again. At the $1,310 high, the upward move has been hindered. Although the price of ETH has broken beyond the 21-day EMA, it is currently below the 50-day line SMA. The price will move upward more quickly if buyers can keep it above the 50-day SMA. Ether is still being rejected even at the $1,300 high. Ether’s price has been fluctuating in a range between $1,070 and $1,350 in the most recent price movement. The cryptocurrency will begin its range-bound journey if it is rejected at the most recent high. The biggest altcoin will trend once the range-bound levels are broken.

ETHUSD(WeeklyChart)-November30

Ethereum Technical Indicators Reading
Ethereum is at level 42 on the Relative Strength Index for period 14. The current price recovery has caused the RSI to rise. The price bars on the daily chart are in between the moving average lines, indicating that the range-bound motion has resumed. The price of Ether is currently overbought. It is higher than the daily stochastic’s level of 80.

Conclusion
Ethereum has risen after hitting a low of $1,079 earlier. The largest altcoin is projected to continue moving in a band between $1,071 and $1,350. The altcoin has overbought and is currently being rejected at its most recent high.

ETHUSD(DailyChart)-November30

Learn from market wizards: Books to take your trading to the next level

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20230131 14:59:10