Ethereum (ETH) Daily Price Forecast – November 13

ETH/USD Medium-term Trend: Ranging

Resistance Levels: $240, $260, $280
Support Levels: $210, $190, $170

Yesterday, November 12, the price of Ethereum was in a bearish trend. The crypto’s price is fluctuating above the $200 price level. It is also fluctuating below and above the exponential moving averages (EMAs). Presently, the price of Ethereum is fluctuating below the exponential moving averages indicating that price is likely to fall.

If the crypto’s price falls, it will fall and test the $200 price level. If bears break the $200 price level, the price will find support at either $194.94 or $188.13. The digital currency is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal. Traders should initiate long orders as the price is now in a bullish trend so as to earn partial profits.

ETH/USD Short-term Trend: Ranging

On the 1-hour chart, the digital currency is in a bearish trend. The crypto’s price is now below the 12-day EMA and the 26-day EMA indicating that price is likely to fall. The MACD line and the signal line are below the zero line which indicates a sell signal.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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