Preparing data for you could take a moment.
Thank you for your patience.
It is worth the wait.
We frequently make our website faster.
Ethereum Price Prediction: The Bears Take-over; ETH/USD May Fall below $500 Support Level

Ethereum Price Prediction: The Bears Take-over; ETH/USD May Fall below $500 Support Level

ETH Price Prediction – November 26

The daily chart reveals that the Ethereum price is approaching a crucial support level, similar to Bitcoin (BTC).

ETH/USD Market

Key Levels:

Resistance levels: $620, $640, $660

Support levels: $420, $400, $380

ETHUSD – Daily Chart

ETH/USD is trading down 8.33% at its current price of $521.51, which marks a notable decline from its daily highs of $577 today when the bulls attempt to spark another rally. In the next negative movements, ETH/USD may find some support in the lower $480 level, as it has bounced multiple times after visiting this level.

What to Expect from Ethereum (ETH)

The Ethereum (ETH) is currently following the bearish trend with a tremendous price drop. Although many traders were expecting a lot from the coin before it suddenly changes to the downside. Meanwhile, the majority of the altcoins started trading today with a fall as the Ethereum price is seen trading under the 9-day moving average but yet to break below the lower boundary of the channel.

Moreover, a bearish drop may likely roll the market down to the support level of $420, $400, and $380 while a possible bullish surge may drive the market above the moving averages at the $580 resistance level. Meanwhile, the $620, $640, and $660 may further provide resistance levels for the market. The technical indicator RSI (14) is facing the negative side and staying there may cause the coin to fall below the critical supports again.

Against Bitcoin, the market price remains within the negative side but still trading above the 9-day and 21-day moving averages. The bears are already taking over the market as ETH/BTC is currently trading at 0.0303 BTC and the bulls failed to push the price upward. Meanwhile, if the market continues to drop, the next key supports could be 0.0270 BTC and below.

ETHBTC – Daily Chart

However, on the upside, a possible bullish movement may surface and this could push the market to cross above the upper boundary of the channel, once this is done, the resistance level of 0.0330 BTC and above may be visited. As for now, the RSI (14) is seen moving below the 55-level, suggesting that the market may continue to fall.

Source

Why Ethereum and Altcoins Faced Carnage As Bitcoin Hit $19,500

Why Ethereum and Altcoins Faced Carnage As Bitcoin Hit $19,500

The ongoing Bitcoin rally brought investor interest back to altcoins in a big way, but as soon as the top-ranked cryptocurrency made it above $19,000, it has been nothing but carnage for Ethereum and the rest of the <a class="wpg-linkify wpg-tooltip" title="

Altcoin

Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.

» Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin space.

Here’s why these assets faced carnage as soon as Bitcoin hit $19,500, and why it might signal a short-term top is near the crypto market.

Ethereum And Other Top Altcoins Suffer Carnage As BTC Nears ATH

Today could be the day when Bitcoin breaks its all-time high, and just about anyone in the crypto spaces knows it.

And that’s the primary reason in a nutshell that altcoins like Ethereum, XRP, and dozens more suffered a strong pullback once the most dominant cryptocurrency touched $19,500.

Related Reading | Bitcoin And Dollar Dominance: Five Factors Behind The Current Altcoin Season

At just a couple hundred dollars away depending on the exchange, Bitcoin price is now the closest its ever been to its former all-time high, and each attempt from bulls gets closer and closer.

With a new record so close crypto bulls are so confident and salivating at the milestone, that they’re dumping their altcoins – now in profit – back into BTC for what they believe to be the eventual push higher.

bitcoin ethereum crypto ethbtc btc btcusd eth ethusd

bitcoin ethereum crypto ethbtc btc btcusd eth ethusd

ETHBTC and altcoins slide as Bitcoin nears all-time high against the dollar | Source: BTCUSD on TradingView.com

Bitcoin Ended Alt Season As It Passed $19,000, Peak Is Possible

The divergence is clear. Bitcoin passed $17,700, causing altcoins to soar. But as soon as $19,000 was cleared, things have turned for altcoins as evident by the ETHBTC trading pair. Ethereum has tanked compared to Bitcoin’s ongoing bullishness.

The boom in altcoins is one of three factors CNBC’s Brian Kelly points to as a near-term top.

Related Reading | Here’s What Will Happen To Altcoins Once Bitcoin Breaks $20,000

But when Bitcoin does take out its all-time high, fireworks in altcoins typically happen, so downside in the alternative crypto assets is likely limited as well.

Featured image from Deposit Photos, Charts from TradingView.com

Source

Ethereum (ETH) Clears $600, Making A Retest Of All-Time Highs Imminent

Ethereum (ETH) Clears $600, Making A Retest Of All-Time Highs Imminent

Ethereum has exploded with the same momentum that Bitcoin did earlier in November, now taking the <a class="wpg-linkify wpg-tooltip" title="

Altcoin

Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.

» Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin’s recovery to over $600. The level is the last major resistance zone before an all-time high retest is due. Here is the level to watch for where a reversal could take place, or if it’s too late and the cryptocurrency will just keep on going from here.

Ethereum Takes Out $600, All-Time High Possible With Another Leg Up

Bitcoin price reaching prices near $20,000 has diverted incoming capital toward altcoins once again. Ethereum had been feigning signs of weakness, but instead was gearing up enough strength under the radar to make a similar-sized push as Bitcoin.

With Ethereum being the most robust network of the rest of the space and in second in place by rank, it is the first logical <a class="wpg-linkify wpg-tooltip" title="

Coin

A coin is a unit of digital value. When describing cryptocurrencies, they are built using the bitcoin technology and have no other value unlike tokens which have the potential of software being built with them.

» Read more

” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin to put money into next to BTC.

Related Reading | Analyst: Ethereum And Litecoin Forecast One Last Crash Against Bitcoin

And investors are doing just that. Ethereum and other major altcoins are posting larger gains than Bitcoin itself.

600 eth

600 eth

The top-ranked <a class="wpg-linkify wpg-tooltip" title="

Altcoin

Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.

» Read more

" href="https://www.newsbtc.com/dictionary/altcoin/" data-wpel-link="internal">altcoin clears $600 today following Bitcoin bullish breakout | Source: ETHUSD on TradingView.com

The ongoing crypto market rally has pushed Ethereum as of this morning past the pivotal $600 mark. The level is the first area in a series of four weekly resistance zones.

The <a class="wpg-linkify wpg-tooltip" title="

Altcoin

Altcoin is defined as any cryptocurrency except for Bitcoin. “Altcoin” is a combination of two words: “alternative Bitcoin” or “alternative coin”. There are over 1,500 altcoins with many more planned for release.

» Read more

” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin spent very little time trading around those prices, however, and much like Bitcoin has demonstrated recently, they might not pose much threat to the current bullish momentum.

ethusd weekly ethereum

ethusd weekly ethereum

Price action is rapidly approaching all-time highs, with very little price action above current levels | Source: ETHUSD on TradingView.com

At this rate, and given the sudden revival of interest in the cryptocurrency market, a retest of both Bitcoin and Ethereum’s all-time highs could very well arrive sooner than later.

Related Reading | Why Bitcoin Dominance Suggests Alt Season Is Still Many Months Out

Things are undeniably overheated, but conditions are unique in the fact that the dollar is breaking down, and hard assets like crypto are especially bullish in such situations.

How far will this one Ethereum rally go?

Featured image from Deposit Photos, Charts from TradingView.com

Source

Ethereum Could Correct Gains, Why Dips Remain Attractive Near $530

Ethereum Could Correct Gains, Why Dips Remain Attractive Near $530

Ethereum started a strong surge above the $500 resistance against the US Dollar. ETH price traded as high as $562 and it is currently correcting gains.

  • ETH price traded to a new multi-month high near $562 against the US Dollar.
  • The price is currently correcting lower below $550, but it is well above the 100 simple moving average (4-hours).
  • There is a major bullish trend line forming with support near $495 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair could correct lower, but dips are likely to remain attractive near $530 or $510.

Ethereum Price is Showing Positive Signs

This past week, bitcoin and ethereum gained bullish momentum above $18,000 and $500 respectively against the US Dollar. ETH price surged further above the $520 resistance and settled well above the 100 simple moving average (4-hours).

The upward move was such that there was a break above a key connecting resistance trend line at $508 on the 4-hours chart of ETH/USD. The pair gained pace and traded above the $540 and $550 levels.

Ether price traded to a new multi-month high near $562 and recently started a short-term correction. It traded below the $550 level, and broke the 23.6% Fib retracement level of the recent upward move from the $503 swing low to $562 high.

Ethereum Price

Ethereum Price

Source: ETHUSD on TradingView.com

The first key support on the downside is near the $532 and $530 levels. It is close to the 50% Fib retracement level of the recent upward move from the $503 swing low to $562 high.

On the upside, the $555-$560 zone is a key hurdle for the bulls. A successful break above the $560 resistance might start another rally. In the stated case, ether price is likely to rally towards the $580 and $585 levels.

Downside Correction in Ether (ETH)?

If Ethereum fails to extend its rise above $560, it could correct lower. The first major support zone sits near the $532 and $530 levels.

If there are more losses, ether price could move down towards the $510 support zone. There is also a major bullish trend line forming with support near $495 on the same chart, where the bulls are likely to take a strong stand.

Technical Indicators

4 hours MACD – The MACD for ETH/USD is slowly losing momentum in the bullish zone.

4 hours RSI – The RSI for ETH/USD is correcting lower from the 80 level.

Major Support Level – $530

Major Resistance Level – $560

Source