Ethereum Price Prediction Today (5-Nov): Ethereum Resistance Holding Has Predicted! Watch This Head and Shoulders Pattern
[ad_1]
In our previous Ethereum analysis, ETH Bearish Prediction Invalidated! What Now? we warned our readers of the $1,635 major resistance just up ahead in the 15 minutes timeframe.
Well, the Ethereum price has just tested this key zone and is currently rejecting it. In this Ethereum analysis, we will be talking about this price rejection as well as the Head and Shoulders Pattern forming right now.
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 $4380 in Bonus
Ethereum Rejecting This Key Level
By failing to break through this $1,635 resistance region, there is a very high probability that we might see more sellers come into the market and try to continue pushing the Altcoin price down.
The pattern that supports this possible bearish sell-off is the Head and Shoulders Pattern currently forming in the 15 minutes timeframe.
If this pattern plays out, there is a very high probability that we might see the Ethereum price sell-off back down to the $1,617 price level in the coming days.
Key Levels To Watch!
For this Head and Shoulder pattern to remain valid, the Ethereum price must continue to trade below the head part of the head and Shoulder pattern.
A price break above this $1,666 high could see Ethereum pushing even higher in the coming days.
Claim up to $4380 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