Ethereum price analysis is bearish today as we have seen another lower local high set below $1,600 after further lows set earlier in the week. Therefore, ETH/USD should drop even lower and look to break past the $1,500 support over the weekend.
The market has traded in the green over the last 24 hours. The leader, Bitcoin, gained 2.25 percent, while Ethereum gained 3.28 percent. Meanwhile, the rest of the market saw slightly bigger gains.
Ethereum price movement in the last 24 hours: Ethereum retested upside again
ETH/USD se trgovalo u rasponu od 1,526.73 do 1,590.85 dolara, što ukazuje na značajnu volatilnost u posljednja 24 sata. Obim trgovine je opao za 39.6 posto, na ukupno 14 milijardi dolara, dok se ukupna tržišna kapitalizacija trgovala oko 193.6 milijardi dolara, što je rezultiralo tržišnom dominacijom od 18.83 posto.
ETH/USD 4-hour chart: ETH prepares to continue lower?
On the 4-hour chart, we can see slight reaction from the $1,600 resistance, likely leading to further selling overnight.
Cijena Ethereuma action has seen a strong swing high set over the course of November. The current swing high at $1,650 was reached last Saturday after another quick push high followed last Friday.
Since then, ETH/USD has retraced with steady momentum. A Series of lower local highs and lows have been seen over the past days, leading back to the $1,500 major support/resistance level.
For now, we can see Ethereum price action respecting the level as consolidation followed yesterday after a brief test. Eventually, ETH started to move higher, retesting the $1,600 mark with no signs of breaking higher. Likely we will see another push lower over the weekend as a result, with the $1,400 mark being the next major support target.
Analiza cijena Ethereuma: Zaključak
Analiza cijena Ethereuma is bearish today as we have seen a quick reaction higher this morning and another lower local high set at $1,600. Therefore, ETH/USD is likely ready to decline further and break past the $1,500 support, which would open up the way for a lot more downside over the weekend.
Dok čekate da Ethereum krene dalje, pogledajte naša predviđanja cijena na XDC, Cardano, I Curve
Izvor: https://www.cryptopolitan.com/ethereum-price-analysis-2022-11-04/