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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

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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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