Ethereum Price Prediction Daily (27-Nov): More Bearish Signal For Ethereum! Watch This Ending Diagonal Pattern
[ad_1]
The Ethereum price continues to struggle at the $1,233 key resistance region in the 1-hour timeframe. This region is so important to the bears because if they can hold on to it, there is a very high probability that we might see a price sell-off occur in the coming days.
However, this bearish prediction and bias on Ethereum can only remain valid if this $1,233 resistance holds. Right now, Ethereum is still trading around this level and the price is now forming an Ending Diagonal Pattern at this key region.
What does this mean for price and what can we expect next? Find out all that and more in this TA.
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 Ending Diagonal Pattern
The Ending Diagonal Pattern is a unique reversal trading pattern used by professionals to spot possible trend change scenarios.
If this Ending Diagonal pattern plays out, we might see a sharp decline in the Ethereum price back down to the $1,170 price level in the coming days.
So for right now, we will be watching this pattern closely to spot exactly when the Ethereum sell-off starts.
Final Verdict!
We are still bearish on Ethereum and will remain bearish as far as the Altcoin price respects and continues to trade below the $1,233 key resistance in the 1-hour timeframe.
What we are seeing right now is more bearish confirmation to indicate that we should be expecting a possible sell-off for Ethereum sooner or later. The Ending Diagonal Pattern provides us with an easy way to take advantage of that sell-off when it starts.
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:
[ad_2]
Source link
