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Ethereum (ETH) Price Analysis for November 10

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Thu, 10/11/2022 - 16:00
Ethereum (ETH) Price Analysis for November 10
Cover image via www.tradingview.com

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The market might have found the local bottom as most of the coins are in the green zone.

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Top coins by CoinMarketCap

ETH/USD

Ethereum (ETH) is one of the biggest gainers today, rising by more than 7%.

ETH/USD chart by TradingView

On the hourly chart, Ethereum (ETH) has bounced off the support level at $1,171. At the moment, the price is trying to fix above the resistance at $1,310. If buyers can do that by the end of the day, there are chances to see further growth tomorrow.

ETH/USD chart by TradingView

On the bigger time frame, the situation is also positive as the rate is able to fix above yesterday's high at $1,336. If that happens and the volume keeps rising, bulls might seize the initiative and try to restore the rate to the next resistance zone around $1,500.

ETH/BTC chart by TradingView

Analyzing the chart against Bitcoin (BTC), Ethereum (ETH) has almost immediately gotten back in the game as the bar is about to close in the bullish zone, above BTC 0.07175.

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In this case, traders might see a further rise to the BTC 0.08 mark shortly.

Ethereum is trading at $1,334 at press time.

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