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SOL and ETH Price Analysis for November 17

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Thu, 17/11/2022 - 14:23
SOL and ETH Price Analysis for November 17
Cover image via www.tradingview.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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The cryptocurrencies have continued the decline, according to CoinMarketCap's ranking.

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Top 10 coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) has declined by 1.87% over the last 24 hours.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) is trading near the interim support level at $1,186 formed by the false breakout. If the pressure continues, there are high chances to see a sharp drop to the $1,100 zone by the end of the week.

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Thus, the selling volume is low, which means that bears are not ready to give up yet.

Ethereum is trading at $1,189 at press time.

SOL/USD

Solana (SOL) is more of a loser than Ethereum (ETH), going down by 5.62% over the last 24 hours.

SOL/USD chart by Trading View

Solana (SOL) is also going down after the failed attempt to fix above the $14 mark. At the moment, one should pay attention to the support level of $12.37. If it breaks out, traders might see SOL at around $10 soon.

SOL is trading at $13.01 at press time.

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