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Ethereum (ETH) Price Analysis for November 24

Ethereum

u.today 24 November 2022 16:02, UTC
  
Reading time: ~2 m

The market keeps slowly rising as most of the coins are in the green zone.

Top 10coins

ETH/USD

The rate of Ethereum (ETH) has increased by 3.24% over the last 24 hours.

ETH/USD

On the hourly chart, Bitcoin (BTC) keeps returning to the recently formed support level of $1,193.

If buyers cannot seize the initiative by the end of the day, the fall may continue to the $1,180 mark.

ETH/USD chart

The situation differs on the bigger time frame. Despite the recent growth, Ethereum (ETH) has not entered the bullish zone yet as the price remains below the vital $1,300 area. Thus, the volume is low, which means that buyers are not ready yet for the upward move.

ETH/BTC

Analyzing the chart against Bitcoin (BTC), Ethereum (ETH) has entered the bullish zone after the breakout of the resistance level at BTC 0.0717. If buyers can hold the gained initiative, the rise may lead to the test of the interim resistance zone at BTC 0.074.

Ethereum is trading at $1,193 at press time.


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