Ethereum

Cryptocurrency

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   Nov 27, 2023 at 12:11 // Price
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span>
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 </div> <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/d72/900_900_1/923htjpzcl7zybgg6vxy15lzx9u2po1d.jpg" width="900" height="563" alt="" title="">
 <p><strong>The price of Ethereum (ETH) falls back and remains above the $2,000 support level. Cryptocurrency price <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com.</strong></p>
 <h2 style="text-align: justify;" id="long-term-analysis-of-the-ethereum-price-bullish">Long-term analysis of the Ethereum price: bullish</h2>
 <p style="text-align: justify;">The price movement is just above the psychological price threshold of $2,000. Buyers are defending the current support level in anticipation of a positive move. The largest altcoin is trading in a limited range between $2,000 and $2,130.</p>
 <p style="text-align: justify;">The $2,131 mark has halted the uptrend since November 9. Ether retraced after retesting it on November 24 and found support above the low of $2,047.</p>
 <p style="text-align: justify;">Now, ETH appears to be trading in a limited range, which could lead to a breakout or a decline. If the buyers break above the current resistance, Ether will rise to the next resistance at $2,200. If the bears break the 21-day SMA, Ether will drop to the next support at the 50-day SMA or the low at $1,835.</p>
 <h2 style="text-align: justify;" id="ethereum-indicator-analysis">Ethereum indicator analysis</h2>
 <p style="text-align: justify;">&nbsp;The largest altcoin has survived the bearish momentum twice as the bulls bought the dips below the 21-day SMA. Had the negative momentum continued below the 21-day SMA, the sellers would have gained the upper hand. However, on the 4-hour chart, Ether has retreated between the moving average lines on its recent downturn. This suggests that the market will continue to move within the current trading range.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $1,800 and $2,000</b></p>
 <p style="text-align: justify;"><b>Key support levels – $1,600 and $1,400</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="ETHUSD_(Daily Chart) – NOV.27.jpg" src="https://cdn.thebittimes.com/images/2023/11/27/324adc9391417d396efe0c6c747aae70.webp" height="523" title="ETHUSD_(Daily Chart) – NOV.27, 2023"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-ethereum">What is the next direction for Ethereum?</h2>
 <p style="text-align: justify;">Ethereum's price has retraced and regained support above the lower price range. The largest altcoin will maintain its range as long as it stays above the psychological price threshold of $2,000. Ether will perform once the barrier at $2,131 or the support at $2,000 is broken. The decline has paused above the low of $2,047.</p>
 <p style="text-align: justify;"><img width="1024" alt="ETHUSD_(4 hour Chart) – NOV. 27.jpg" src="https://cdn.thebittimes.com/images/2023/11/27/65c332133dbea0a3578ae74d5b48179d.webp" height="523" title="ETHUSD_(4 hour Chart) – NOV. 27, 2023"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;"><br> </span></i></p>
 <p style="text-align: justify;"><span style="color: #000000;">Last week Coinidol.com reported that&nbsp;</span>Ether has reached a high of $2,070.&nbsp;According to the price indicators, the market could rise to a high of $2,198, but the altcoin was trading in the overbought zone of the market.&nbsp;</p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-price-stays-within-its-range-and-lingers-above-2-047-tbt71778.html">https://thebittimes.com/ethereum-price-stays-within-its-range-and-lingers-above-2-047-tbt71778.html</a></p>

Ethereum Price Stays Within Its Range And Lingers Above $2,047

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TheBitTimes

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