Ethereum

Cardano

Solana

Resistance

Vortex

<img width="1946" height="1104" src="https://coingape.com/wp-content/uploads/2023/10/eWTIqvrH.png" class="attachment-full size-full wp-post-image" alt="Ethereum Price" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2023/10/eWTIqvrH.png 1946w, https://coingape.com/wp-content/uploads/2023/10/eWTIqvrH-300x170.png 300w, https://coingape.com/wp-content/uploads/2023/10/eWTIqvrH-1224x694.png 1224w, https://coingape.com/wp-content/uploads/2023/10/eWTIqvrH-768x436.png 768w, https://coingape.com/wp-content/uploads/2023/10/eWTIqvrH-1536x871.png 1536w, https://coingape.com/wp-content/uploads/2023/10/eWTIqvrH-150x85.png 150w" sizes="(max-width: 1946px) 100vw, 1946px">
<p><span style="font-weight: 400;">Over the past two weeks, the Ethereum Price has <a href="https://coingape.com/ethereum-price-prediction-as-bulls-uphold-1800-support-breakout-above-2k-approaching/">exhibited a remarkable recovery</a> on its daily chart, surging 17.8% from its local support at $15.25 to currently trade at $1798. However, this rally appears to be hitting a resistance wall around the $1,850 level, mirroring the supply pressure faced by the leading cryptocurrency Bitcoin. This heightened supply pressure evidenced by the long-wick rejection candles casts doubt on the durability of the ongoing recovery.</span></p> 
<p>Also Read: <a href="https://coingape.com/blog/solana-vs-ethererum/">Solana Vs Ethereum: A Deep-Dive Analysis of Two Popular Coins</a></p> 
<h2 id="b-dual-resistance-threatens-for-new-correction-b"><b>Dual Resistance Threatens for New Correction</b></h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">The flag pattern governs the current correction trend in the Ethereum coin.</span></li> 
 <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">A bullish breakout from the overhead trendline could set a rally beyond $2000</span></li> 
 <li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">The intraday trading volume in Ether is $6.7 Billion, indicating a 5.9% loss.</span></li> 
</ul> 
<p><span style="font-weight: 400;"><img decoding="async" class="alignnone" src="https://s3.tradingview.com/snapshots/e/eWTIqvrH.png" alt="Ethereum Price" width="1946" height="1104">Source- Tradingview</span></p> 
<p><span style="font-weight: 400;">The <a href="https://coingape.com/price/ethereum/">Ethereum price</a> recovery faces a formidable hurdle at the $1,850 level, coinciding with the upper trendline of a bullish flag pattern. Amid the prevailing uncertainty emanating from the <a href="https://coingape.com/price/bitcoin/">Bitcoin price</a> consolidation, the ETH price too has been trading sideways for over a week.&nbsp;</span></p> 
<blockquote>
 <p><span style="font-weight: 400;">Although sellers have attempted to exploit this market flux, the buyers have been steadfast in maintaining a floor at $1,750. Consequently, the coin price oscillates between this support level and the overhead trendline.&nbsp;</span></p>
</blockquote> 
<p><span style="font-weight: 400;">A decisive breakout or breakdown from this range will offer a clearer outlook for near-term price action. Should the market supply pressure intensify, a drop below the $1,750 level could instigate a significant correction, maintaining the asset within its current flag pattern.&nbsp;</span></p> 
<p><span style="font-weight: 400;">In such a scenario, the Ethereum coin could potentially slide toward its lower trendline, currently situated below the $1,500 mark.</span></p> 
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<h2 id="strong-is-ethereum-price-heading-to-3000-strong"><strong>Is Ethereum Price Heading to $3000?</strong></h2> 
<p><span style="font-weight: 400;">While the current market sentiments remain uncertain, the ETH price is strictly following the <a href="https://coingape.com/education/bull-flag-pattern-in-crypto-meaning-and-how-to-identify/">flag pattern formation</a>, evidenced by the multiple rebounds within its trendline. In theory, this pattern is a bullish continuation pattern, and therefore it should bolster buyers to break above the overhead trend line. A potential breakout with a daily candle closing would accelerate the buying momentum and could surge the altcoin to a potential target of $2,292 followed by a $3,000 mark</span></p> 
<ul> 
 <li style="font-weight: 400;" aria-level="1"><b>Vortex Indicator</b><span style="font-weight: 400;">: The considerable gap between the VI+ and VI- slopes in a bullish crossover state confirms the recovery trend remains robust.</span></li> 
 <li style="font-weight: 400;" aria-level="1"><b>Exponential Moving Average: </b><span style="font-weight: 400;">An impending bullish crossover between the 20-day and 200-day EMA slopes could further intensify buying interest in this asset.</span></li> 
</ul> 
<p>The post <a rel="nofollow" href="https://coingape.com/markets/3k-or-1-5k-where-ethereum-price-is-heading/">$3000 or $1500, Where Ethereum Price is Heading this November?</a> appeared first on <a rel="nofollow" href="https://coingape.com">CoinGape</a>.</p>

$3000 or $1500, Where Ethereum Price is Heading this November?

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