Ethereum (ETH) Current Statistics-a Further Decline
The current price: $3,179.93
Market Capitalization: $382,936,610,330.08
Trading Volume: $31,856,280,606.23
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500
Ethereum (ETH) Price Analysis November 16, 2024-a Further Decline
Ethereum’s (ETH) price is falling and has stuck at $3,200, indicating a further decline. The upward movement is met with resistance at the $3,200 high. For the past 48 hours, the largest altcoin has fluctuated in a small range, trading above the moving average lines. On the upside, if buyers surpass the $3,200 resistance, Ether will increase and retest or break the $3,400 resistance level. This will help the altcoin hit a high of $3,800 or $4,000.
However, if the bear breaks below the $3,000 support, Ether will fall above the $3,000 low or the 21-day SMA support. Meanwhile, the cryptocurrency price is retesting the $3,200 resistance and attempting to break through it.
ETH Technical Indicators Reading
Ether price bars are significantly higher than the moving average lines. The price bars have retraced and halted above the $3,000 level. The altcoin will further decline to the low above the 21-day SMA support if it loses the $3,000 support. On the 4-hour chart, the price bars fall below the moving average lines. On the 4-hour chart, a further decrease is indicated by the price bars being below the moving average lines.
Conclusion
On the 4-hour chart, Ether’s upward move has been hampered by the resistance at $3,200, indicating a further decline. Meanwhile, on November 13, a retraced candle body tested the 38.2% Fibonacci retracement level, implying that Ether will fall to level 2.618 Fibonacci extension, or $2,680.72.
Make money without lifting your fingers: Start using a world-class auto trading solution.
Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
