ETH Price Prediction – November 17
Ethereum (ETH) has seen a sharp 1.35% price rise within 2days which has brought the price of the cryptocurrency back to $184.
Resistance levels: $195, $200, $205
Support levels: $170, $165, $160
ETHUSD – Daily ChartAt the time of writing, ETH/USD is trading up over 1.35% at its current price of $183, which marks a slight climb from its recent lows of under $180 that was set yesterday. Ethereum’s ability to post a strong and fast limit after a brief drop below $180 indicates that the level of short-term support will be significant and will likely continue as long as Bitcoin does not experience significant selling pressure in the near term.
However, the Ethereum price has continued to rise further higher until it finds resistance at the expected level of $188. Looking at the daily chart, we can see that ETH/USD even spiked higher into the resistance level at $186.36. Therefore, if the buyers continue to push the market higher, the immediate resistance above $190 level will be located. Above this, further resistance levels lie at $195, $200 and $205.
Alternatively, if the sellers try to bring down the price to the support level of $180, the bears can expect immediate support to be located at $175 which is below the 9-day and 21-day MAs. Below $175, further support is found at $170, $165 and $160. Meanwhile, the RSI (14) is moving around the 50-level, which shows that the buyers are still not ready to give up over the control of the market.
Against BTC, Ethereum has continued to trade above the moving averages of 9-day and 21-day within the ascending the channel and the price is now hovering at 0.0216 BTC as the RSI (14) moves above level 60. The bulls still remain the dominant of the market and the pair seems to be moving towards the potential resistance levels of 0.0225 BTC and 0.0230 BTC.
ETHBTC – Daily ChartConversely, a lower sustainable move may likely cancel the bullish pattern and this could attract new sellers to the market with the next focus on 0.0205 BTC and 0.0200 BTC support levels.
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The post Ethereum Price Prediction: The Crucial $184 Resistance Comes Back Into Play as ETH/USD Moves Above $182 appeared first on InsideBitcoins.com.
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