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Ethereum (ETH) Price Analysis for November 26

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Sun, 26/11/2023 - 17:40
Ethereum (ETH) Price Analysis for November 26
Cover image via www.tradingview.com

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The last day of the week is bearish for the cryptocurrency market.

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ETH/USD

The rate of Ethereum (ETH) has risen by 0.18% since yesterday. Over the last week, the price has risen by 6.44%.

Image by TradingView

On the hourly chart, the price of ETH is in the middle of the local channel, getting energy for a further sharp move. However, any ups or downs are unlikely to happen today as most of the daily ATR has been passed.

Image by TradingView

On the daily time frame, the situation remains unchanged as the rate of ETH keeps accumulating power. One can only think of a continued rise if the price fixes above the $2,120 zone.

Image by TradingView

From the midterm point of view, one should pay attention to the bar closure.

Related
Bitcoin (BTC) Price Analysis for November 25

If it happens near the $2,100 area, one can expect a resistance breakout by the end of the month.

Ethereum is trading at $2,079 at press time.

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