Ethereum Forecast and Analysis for November 12, 2024


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ETH/USD are trading at 3160 and continue to move as part of the development of growth and the beginning of the development of the “Triangle” model. Moving averages indicate a short-term bullish trend for Ethereum. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and a potential continuation of the asset’s decline from current levels. At the moment, we should expect an attempt to develop a bearish correction in the coin’s value and a test of the support level near the 2825 area. From where we should again expect an upward price rebound and continued growth of the Ethereum rate with a potential target above the 3675 level.

Ethereum Forecast and Analysis for November 12, 2024

An additional signal in favor of the growth of ETH/USD quotes will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the cryptocurrency rise option will be a fall in the Ethereum price and a breakout of the 2605 level. This will indicate a breakout of the support area and a continuation of the fall of ETH/USD quotes to the 2065 level. With a breakout of the resistance area and closing of quotes above the 3285 mark.

Ethereum Forecast and Analysis for November 12, 2024

Ethereum Forecast and Analysis for November 12, 2024 suggests an attempt at correction and a test of the support area near the 2825 level. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the 3675 level. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength indicator. The cancellation of the digital currency growth option will be a breakout of the 2605 area. Which will indicate a continuation of the fall of the digital currency with a potential target below the 2065 level.


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