Ethereum Price Prediction Daily (26-Nov): Urgent: Read This Before Buying Ethereum!

Ethereum Price Prediction Daily (26-Nov): Urgent: Read This Before Buying Ethereum!

Alt coin
November 26, 2022 by keithhill530
361
[ad_1] Urgent: Read This Before Buying Ethereum! Watch this price prediction playing out in the 1-hour timeframe The Ethereum price has been inching higher for days now. However, the Ethereum bulls are currently fighting to break through a major level in the 15 minutes timeframe. We have seen this $1,233 price level serve as key
indicator-moving-down.png

[ad_1]

Urgent: Read This Before Buying Ethereum! Watch this price prediction playing out in the 1-hour timeframe
Urgent: Read This Before Buying Ethereum! Watch this price prediction playing out in the 1-hour timeframe

The Ethereum price has been inching higher for days now. However, the Ethereum bulls are currently fighting to break through a major level in the 15 minutes timeframe.

We have seen this $1,233 price level serve as key resistance on multiple occasions in the past, this increases the probability for it to do so again in the coming days.

In this Ethereum analysis, we will be breaking down our bearish outlook on Ethereum as well as the key reversal pattern forming right now at that level!

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $4,380 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link

Claim up to $30,030 in Bonus

Ethereum $1,233 Resistance Level.

Urgent: Read This Before Buying Ethereum! Watch this price prediction playing out in the 1-hour timeframe
Urgent: Read This Before Buying Ethereum! Watch this price prediction playing out in the 1-hour timeframe

This key level is very important to the Ethereum bears because a price break and close above it signifies the invalidation of the bearish triangle pattern that formed earlier this month.

The Ethereum price is still yet to smash our bearish target for this Triangle pattern, this means the ETH sell-off might not be over just yet.

But for that bearish prediction to remain valid, the Ethereum price must continue to trade below the $1,233 key resistance.

If the bulls can manage to push prices above the $1,233 key level, this will invalidate the Triangle pattern and increase the potential for a bullish surge to happen instead.

What Is Ethereum Doing Now?

Urgent: Read This Before Buying Ethereum! Watch this price prediction playing out in the 1-hour timeframe
Urgent: Read This Before Buying Ethereum! Watch this price prediction playing out in the 1-hour timeframe

Well right now, we are beginning to see a bit of weakness come into the Ethereum market as the price continues to test this $1,233 key level.

This weakness can be clearly tracked by the MACD indicator as the price is currently diverging a lot.

This Bearish Divergence could indicate that Ethereum might be getting ready to sell off sooner or later.

We can see a clear explanation of what a Bearish divergence means in the image below.

In simple terms, what this bearish divergence means is “bullish volume is dying down and bearish sentiment is growing” professional investors use this as a bearish signal to get ready for a sell-off.

Final Verdict!

We are still bearish on the Ethereum price and will remain bearish until the bulls can break through and close above the $1,233 key resistance level.

Until a bullish breakout like this occurs, there is a very high probability that Ethereum’s price might still sell off. And right now we are seeing a bearish divergence play out, supporting this move lower.

Claim up to $30,030 in Bonus

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:

★★★★★

★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

★★★★★

★★★★★

Rating: 89%

Claim up to $4100 in Bonus

★★★★★

★★★★★

Rating: 91%

Claim up to $7000 in Bonus



[ad_2]

Source link

Add a comment

You have not selected any currencies to display