Ethereum Price Prediction November 8

As Ethereum reaches its all-time high, the price prediction for Ethereum is seen rising above the $4700 resistance level.

Market ETH/USD

Key Levels:

Resistance levels: $5200 - $5400 - $5600

Support levels: $4200, $4000, $3800

Daily Chart ETHUSD

Ethereum Price Prediction: Price is Ready to Gain More

If the $4700 resistance is not broken, the Ethereum price will continue its uptrend. The technical indicator Relative Strength (14), which is a technical indicator, is poised to cross into an overbought area to generate more bullish signals for the market. This could encourage more buyers to the market. Ethereum (ETH), however, may maintain an upward trend as long as it crosses the channel's upper boundary.

The red line of 9-day MA should remain above the green line 21-day MA. Otherwise, Ethereum could continue to perform well. Prices of Ethereum could reach resistance levels of $5200, $5400 and $5600. If the technical indicator takes a sharp turn below the moving averages, it could cause a slight bearish fall that could bring the market to levels of support at $4200, $4000 and $3800.

The Ethereum price is currently hovering at 7260 SAT, which is around the 9-day or 21-day moving averages. The technical indicator Relative Strength Index (14) will likely cross below 60-level, as the market price could slide below the 9 day moving average.

ETHBTC – Daily Chart

Moreover, the daily chart shows that the potential resistance level is at 7800 SAT or above. However, a lower sustained move could cancel the bullish pattern, which could attract more sellers to the market. The next focus will be on the 6700 SAT support level and below.

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By: Azeez Mustapha
Title: Ethereum Price Prediction: ETH/USD Trades Above $4700 Level
Sourced From: insidebitcoins.com/news/ethereum-price-prediction-eth-usd-trades-above-4700-level