Will ETH Defeat The Bears In Nov?
The post Will ETH Defeat The Bears In Nov? appeared on BitcoinEthereumNews.com. The price action of the Ethereum crypto showed that selling pressure was noted on the charts and was in a downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average. Furthermore, Ethereum showed a decline in user activity which also reacted as a negative sentiment for the crypto and led to bearishness in the charts. The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, Ethereum trades below the significant moving averages and tries to attain the 50-day EMA to hold the gains. At the time of writing, the Ethereum price is trading at $1585.8 with an intraday gain of 1.79%, showing a bounce from the lower trendline near the support mark of $1532.60. Moreover, the intraday trading volume is 4.529 Billion and the market cap is 190.672 Billion. ETH Crypto has had a poor performance over the years. However, it gave positive returns of 32.66%, Year-to-date, and negative -24.67% in the span of 6 months. In the last 1 month, it gave a negative return of -3.46% and -2.96% in the last seven days. Indicating a long bearish trend continuing till now. Technical Analysis of Ethereum Crypto Price in 1-D Timeframe Source: Ethereum.1D.USD by TradingView At the time of publishing, Ethereum crypto (USD: ETH) is trading below the 50 and 200-day EMAs (exponential moving averages), which do not support the price trend. The current value of RSI is 45.73 points. The 14 SMA is near the median line at 43.73 points which indicates that the Ethereum crypto is neutral as of now. The MACD line at -20.9 and the signal line at -15.7 and are above the zero line. A bearish crossover is observed in the MACD indicator which signals…
The post Will ETH Defeat The Bears In Nov? appeared on BitcoinEthereumNews.com.
The price action of the Ethereum crypto showed that selling pressure was noted on the charts and was in a downtrend, forming lower lows over the past few months. Moreover, due to declining investor interest, trading volume was below average. Furthermore, Ethereum showed a decline in user activity which also reacted as a negative sentiment for the crypto and led to bearishness in the charts. The ongoing trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, Ethereum trades below the significant moving averages and tries to attain the 50-day EMA to hold the gains. At the time of writing, the Ethereum price is trading at $1585.8 with an intraday gain of 1.79%, showing a bounce from the lower trendline near the support mark of $1532.60. Moreover, the intraday trading volume is 4.529 Billion and the market cap is 190.672 Billion. ETH Crypto has had a poor performance over the years. However, it gave positive returns of 32.66%, Year-to-date, and negative -24.67% in the span of 6 months. In the last 1 month, it gave a negative return of -3.46% and -2.96% in the last seven days. Indicating a long bearish trend continuing till now. Technical Analysis of Ethereum Crypto Price in 1-D Timeframe Source: Ethereum.1D.USD by TradingView At the time of publishing, Ethereum crypto (USD: ETH) is trading below the 50 and 200-day EMAs (exponential moving averages), which do not support the price trend. The current value of RSI is 45.73 points. The 14 SMA is near the median line at 43.73 points which indicates that the Ethereum crypto is neutral as of now. The MACD line at -20.9 and the signal line at -15.7 and are above the zero line. A bearish crossover is observed in the MACD indicator which signals…
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