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Ethereum Price Prediction: ETH/USD Tries to Show More Strength, Is $160 in Sight?

ETH Price Prediction – November 26

Ethereum price was seen trading at $147.89 today while the price is trending towards the moving averages.

ETH/USD Market

Key Levels:

Resistance levels: $165, $170, $175

Support levels: $130, $125, $120

ETHUSD – Daily Chart

Today, ETH/USD has performed better than other coins in the market. Although the Ethereum price is progressing slightly, all movements are upward. The current performance of the Ethereum market indicates the beginning of an uptrend very soon. It’s just a matter of time for this coin to reach $160 level again.

In the last two days, Ethereum has moved from $132.62 to $147.88 and at the same time moving towards the 9-day moving average as at the time of writing. The on-going trend may move a little bit higher this week, and the coin may likely reach the nearest resistance at $165, but if the bulls put more effort, it could hit additional resistance levels at $170 and $175 respectively.

Meanwhile, a bearish drop may likely roll the market back to the initial support level 139.93. More so, the support levels to watch out for are $130, $125 and $120. As the trading volume increases, the RSI (14) is coming out of the oversold zone and this could introduce the new arrival of the bulls back into the market.

When compared with Bitcoin, Ethereum (ETH) is currently changing hands at 0.0207 BTC after witnessing some heavy bearish moment in the last few days. Looking at the daily chart, the current trend of the coin is perpetually looking bullish in the short-term, moving towards the 9-day and 21-day MA within the ascending channel.

ETHBTC – Daily Chart

Moreover, the resistance levels to watch for are 0.0215 BTC and 0.0220 BTC while the closest support levels to keep an eye on are 0.0195 BTC and potentially 0.0190 BTC. The RSI (14) moves above 40-level to face the 50-level, which may likely introduce more bullish signals in the nearest term.

Please note: Insidebitcoins.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

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      Azeez Mustapha is a technical analyst with many years trading experience in the stock exchange and crypto markets. He has broad experience in forex trading, coaching, and funds management.