Ethereum (ETH) Price Analysis: Ether Bulls Buy the Dips, Target $420 High
Login

Ethereum (ETH) Price Analysis: Ether Bulls Buy the Dips, Target $420 High

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Highlights
Ether consolidates between levels 375 and $394
The upward move likely

Ethereum (ETH) Current Statistics
The current price: $389.05
Market Capitalization: $44,059,391,006
Trading Volume: $8,913,925,698
Major supply zones: $280, $320, $360
Major demand zones: $160, $140, $100

Ethereum (ETH) Price Analysis November 1, 2020
Ethereum has continued its upward move after recovering above $380 support. On October 30, the biggest altcoin fell to the low at $375 as the bulls buy the dips. The coin has moved up and retested the high of $394. Presently, the coin is fluctuating between $375 and $394.

Ether will rise as long as the bulls sustain price above $380. Alternatively, a breakout at $394 will cause the coin to rally above $420. However, if the bulls fail to break the current resistance, the sideways move between $375 and $394 will continue.

ETH/USD – Daily Chart

ETH Technical Indicators Reading
Ether is still trading in the middle of the ascending channel. The coin is yet to break the resistance and the support lines of the ascending channel. However, the price breaks the 21-day SMA and has recovered above it. The upward movement will continue.

ETH/USD – Daily Chart

Conclusion
The major resistance to Ether’s upward move is the resistance at $420. According to the Fibonacci tool, Ether is likely to rise. On October 12 uptrend, the retraced candle tested the 61.8 Fibonacci retracement level. This implies that the biggest altcoin will rise and reach a level of 1.618 Fibonacci extension




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 investing results


  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News