Ethereum May Resume a Sideways Trend as It Faces Rejection at $1,310

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Key Highlights
ETH/USD rallies to the high of $1,300
Ethereum is likely to resume its range-bound zone

© Unsplash - Zotlan Tasi

Ethereum (ETH) Current Statistics
The current price: $1,288.68
Market Capitalization: $157,858,268,703
Trading Volume: $157,858,268,703
Key Resistance Zones: $2,500, $3,300, $4,000
Key Support Zones: $2,000, $1,500, $1,000

Ethereum (ETH) Price Analysis November 30, 2022
Ethereum (ETH) price is falling and has started to correct upward again. At the $1,310 high, the upward move has been hindered. Although the price of ETH has broken beyond the 21-day EMA, it is currently below the 50-day line SMA. The price will move upward more quickly if buyers can keep it above the 50-day SMA. Ether is still being rejected even at the $1,300 high. Ether’s price has been fluctuating in a range between $1,070 and $1,350 in the most recent price movement. The cryptocurrency will begin its range-bound journey if it is rejected at the most recent high. The biggest altcoin will trend once the range-bound levels are broken.


Ethereum Technical Indicators Reading
Ethereum is at level 42 on the Relative Strength Index for period 14. The current price recovery has caused the RSI to rise. The price bars on the daily chart are in between the moving average lines, indicating that the range-bound motion has resumed. The price of Ether is currently overbought. It is higher than the daily stochastic’s level of 80.

Ethereum has risen after hitting a low of $1,079 earlier. The largest altcoin is projected to continue moving in a band between $1,071 and $1,350. The altcoin has overbought and is currently being rejected at its most recent high.


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