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Ethereum has managed to record some profits after falling very close to the $1,100 price level. Nevertheless, the moderate profit is being withdrawn by the bears in the ongoing session. However, let’s get a closer look.
Ethereum Forecast Statistics Data:
ETH’s current price: is $1,169.60
Ethereum market cap: $157.60 billion
ETH circulating supply: 122.37 million
Ethereum total supply: 122.37 million
ETH Coinmarketcap ranking: #2
Key Price Levels:
Ceiling: $14.34, $15.00, $16.00
Floor: $14.00, $13.00, $12.00
Ethereum Price Prediction Today, November 29, 2022: ETH/USD Bears Wiping out Profits
Looking at the ETH/USD market, it could be seen that price action made a U-turn after testing the Middle limit of the Bollinger indicator. At this point price action seems to be on its way toward support. Even the RSI has portrayed a bearish crossover in the overbought. And, this indicates that traders have started going bearish. Eventually, Ethereum price may fall lower towards the $1,100 price level. Consequently, Ethereum may consolidating within price range $1,210 to $1,095.
Ethereum Price Prediction Today, November 29, 2022: ETH/BTC Price Movement Tests the 38.20 Fib Level
Price activity in the ETH/USD is testing a strong base of 0.07170 which aligns with the Fibonacci level 38.20. Also, the RSI still is on its way upward despite the appearance of two bearish price candles on this chart. However, the terminal of the RSI lines seems to be bending for a crossover. Nevertheless, if enough traders have identified this fib retracement level as an entry point this support may hold. And as a result, price will rise further upwards. But we know that happening in the Ethereum and Bitcoin markets also have roles to play in giving directions to price movements here. Traders in the ETH/BTC may have to keep tabs on these two markets. Nevertheless, traders may expect the price to fall to around 0.07150.
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