Ethereum Sellers Are Creeping Below $1259.00 Key Zone, as Price Remains Under Pressure

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Ethereum sellers are creeping below the $1259.00 key zone as the price remains under pressure. The token price is observed to have been under coercion as a result of being stalled at the $1259.00 key zone.

The crypto price had already seen a decrease of about 5% in its total market volume this week compared to the buildup in the previous weeks. However, this attrition looks relevant owing to the collapse of Alameda Research. The token price is therefore still under pressure, and this has caused major investors to be indecisive.

Ethereum Key Levels to Watch- November 17

The bulls have made a comeback to a significant level of $1259.00. The moving average of days 9 and 14 explains why selling activity will remain active even in the coming days.

Ethereum Sellers Are Creeping Below $1259.00 Key Zone, as Price Remains Under Pressure

The sellers are currently slow to react to the price moment. Nevertheless, the Ethereum price is still more likely to push lower.

The RSI (relative strength index) also shows us that traders can place their sell order following a price pullback at a significant level. Traders should pay more attention, as prices get lower in the coming days.

Ethereum Key Levels

Resistance Levels: $1928.00, $1605.00
Support Levels: $1259.00 $912.00

Total Market Capitalization: $148B
Ethereum Market Capitalization: $147B
Ethereum Volume: $11B
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.