Original U.Today article

Ethereum (ETH) Price Analysis for November 24

Thu, 11/24/2022 - 15:52

Does Ethereum (ETH) have power to keep rise going?

Ethereum (ETH) Price Analysis for November 24

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The market keeps slowly rising as most of the coins are in the green zone.

Top 10coins

ETH/USD

The rate of Ethereum (ETH) has increased by 3.24% over the last 24 hours.

ETH/USD

On the hourly chart, Bitcoin (BTC) keeps returning to the recently formed support level of $1,193.

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If buyers cannot seize the initiative by the end of the day, the fall may continue to the $1,180 mark.

ETH/USD chart

The situation differs on the bigger time frame. Despite the recent growth, Ethereum (ETH) has not entered the bullish zone yet as the price remains below the vital $1,300 area. Thus, the volume is low, which means that buyers are not ready yet for the upward move.

ETH/BTC

Analyzing the chart against Bitcoin (BTC), Ethereum (ETH) has entered the bullish zone after the breakout of the resistance level at BTC 0.0717. If buyers can hold the gained initiative, the rise may lead to the test of the interim resistance zone at BTC 0.074.

Ethereum is trading at $1,193 at press time.

#Ethereum Price Prediction

About the author

Denys Serhiichuk

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.