Ethereum

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The market is facing bearish pressure; however, some coins keep rising, according to <a href="https://u.today/shib-price-analysis-for-november-15" rel="noopener noreferrer nofollow">CoinStats</a>. <img data-entity-type="file" data-entity-uuid="a9bb4b44-d4f3-4ac4-827b-338436d06031" src="https://u.today/sites/default/files/inline-images/top10_777.png">ETH chart by&nbsp;<a href="https://coinstats.app/coins/" rel="noopener noreferrer nofollow">CoinStats</a>
<h2 class="text-align-justify" id="eth-usd">ETH/USD</h2>
The rate of Ethereum (ETH) has risen by almost 1% since yesterday. <img data-entity-type="file" data-entity-uuid="9703f05f-4277-450c-8995-d9f8f6690970" src="https://u.today/sites/default/files/inline-images/eth1_97.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
On the local chart, the price of ETH has made a false breakout of the support level of $2,022. If the daily candle closes far from this mark, the bounce back may happen to the interim zone of $2,050 tomorrow. <img data-entity-type="file" data-entity-uuid="06240a2b-3d57-434d-a6b4-d530b715313f" src="https://u.today/sites/default/files/inline-images/eth2_102.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
Today's bearish candle has not affected the technical picture on the daily time frame.&nbsp;
As none of the sides is dominating, ongoing sideways trading in the area of $2,000-$2,100 is the more likely scenario for the current week. <img data-entity-type="file" data-entity-uuid="f1000350-8fc5-4d07-b39a-657ee2052195" src="https://u.today/sites/default/files/inline-images/eth3_92.png">Image by&nbsp;<a href="https://www.tradingview.com/symbols/ETHUSD" rel="noopener noreferrer nofollow">TradingView</a>
A similar situation can be seen on the weekly chart. At the moment, one should focus on the important area of $2,000. If the rate of ETH remains above that, there is a possibility to see a further rise to the $2,200 range.
Ethereum is trading at $2,031 at press time.

Ethereum (ETH) Price Analysis for November 16

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