Hello everyone, I am Eleven.Ethereum ETH, as an important member of the cryptocurrency market, has been closely monitoring its price trend recently
Hello everyone, I am Eleven.
Ethereum ETH, as an important member of the cryptocurrency market, has been closely monitoring its price trend recently. In the past week, the price increase of Ethereum has reached 20%, which is still good for the participants in the middle line. However, there were some risk warnings worth paying attention to in November.
From the price trend of Ethereum, we found that although there was an increase in prices during the day, it did not break through the previous high in volume, which is a noteworthy phenomenon. This indicates that the pressure level above is relatively heavy and has not yet been successfully broken through.
Eleven believes that this is a period that requires close attention and careful operation.
Ethereum's current main support level is around $1800, which Eleven believes is also a critical psychological barrier. So, if the price falls below this support level, it is likely to trigger a new round of decline. The upper resistance level is located near $2000, and only by effectively breaking through this resistance level can further upward space be opened.
Ethereum's recent continuous development in applications such as DeFi and NFT has provided some support for its price. However, due to the uncertainty of the global economic environment and regulatory policies, market sentiment remains cautious. Eleven believes that this is the reason why it is difficult for Ethereum's prices to shake off the volatile pattern in the short term.
Therefore, given the current dominance of bearish forces in the volatile zone, it is recommended that participants remain cautious in their operations and avoid blindly pursuing gains. You can choose to buy on dips near the support level and harvest and settle appropriately near the resistance level.
If you have any questions, you can ask me directly. As long as you know it on November 11th, you will definitely know everything!
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
