"Ethereum Maintains Strong Position Above $1,935 Support Level"

16 нояб. 2023 г.

Ethereum's price maintains its position above the crucial $1,935 support level, which could spell doom for ETH if breached. With the RSI tilting upwards and AO staying in the positive zone, ETH may extend its upward trajectory, recovering above the $2,029 support to follow the upward trend. This could propel the second-largest cryptocurrency by market capitalization to reach its highest point at $2,136. However, in the face of increased selling pressure, Ethereum's price might dip below the $1,935 support. A decisive move below this level would confirm a downtrend, with ETH potentially testing the 25-day or 50-day EMA at $1,892 and $1,806, respectively.

In a more bearish scenario, Ethereum's price could target the 100-day EMA at $1,763, and breaking and closing below this level would invalidate the bullish argument below the $1,753 support.

Read also: Ethereum Price Prediction: Ascending Triangle Pattern Evaluates $4,000 Target for ETH in 18 Months.