Ethereum Buyers Are Taking a Breather amid the Selling Impact

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Ethereum buyers are taking a breather amid the selling impact. The Ethereum price is still recovering from the liquidation impact of the US midterm elections. In comparison to the previous week’s drop, the Ethereum price is not displaying enough encouraging indicators of upward development. Although there was a positive trend as the price increased by 25% following its enormous decline.

However, every answer over a longer timeline suggests a buying response as investors aim to regain price strength. At the present, the crypto market buyers are still taking a breather.

Ethereum Key Levels To Watch – 11 November

The bulls decided to step in, hoping to reverse price strength. However, the current situation shows sellers trading down following a buying breakout above the $1275.460 key zone.

Ethereum Buyers Are Taking a Breather amid the Selling Impact

The MACD (moving average convergence and divergence) indicator is trending lower in response to the selling pressure currently ongoing on the Ethereum price. Despite the pressure, buyers are confident that they will fill the liquidity void.

The stochastic indicator, on the other hand, indicates that there is still room for buying because the signal line has already crossed the 0.00 level. The stochastic indicator, on the other hand, indicates that there is still room for buying because the signal line has already crossed the 0.00 level. The buyers therefore still have more opportunity to influence the crypto market I’m coming days.

Ethereum Key Levels

Resistance Levels: $1641.180, $1416.800
Support Levels: $1275.460, $1099.380

Total Market Capitalization: $156B
Ethereum Market Capitalization: $155B
Ethereum Volume: $26B
Market Rank: #2

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.