The native token of Ethereum is ETH. The Queen of the market that sometimes decouples with the BTC.
At the time of writing, ETH is being traded at the rate of $3,784 with an increase of almost 1.01% within the last 24 hours.
The low within this tenure was around $3,687 and the high was approximately $3,807. The coin as being in the watchlist of many traders makes it rank all the way up to number 2nd according to the latest data released by coin market cap. Ethereum is the most widely used blockchain in the market.
ETH during the month of November approached its new All-time High around the price of $4,868. The trading volume today on the other hand has increased by almost 80%.
The top exchanges for trading ETH are currently Kucoin, Binance, FTX.
Technical Analysis – Ethereum (ETH)
The analysis that we did on 30th November 2021 is still in play. You can find the analysis here. We can see that the price of Eth has played out exactly as we have said before. Eth has been following BTC in terms of price movement and it didn’t come as a surprise when the price of Eth dropped.
Now we can see in the chart, that the price of Ethereum (ETH) has been consolidating for a while before dropping down. Now there can be two possibilities from where the price can show a reaction.
One thing to notice is the mitigation area. This is due to the presence of an imbalance in the price. Now the price can drop to this level. But from where?
The price can show a reaction from the imbalance and the order block that it has created four days ago when it dropped down and broke the trend line and the structure as well. The second place is the order block which has been formed a few days before this one. Price can show a reaction from that level as well.
Price Prediction – Ethereum (ETH)
ETH has been one of the fast gainers in the market. According to wallet investor, the price of ETH is to reach a value of $7,179 in a year. For five year plan, wallet investors think that the price is to reach a value of $19,533. This means that ETH is considered a good investment. Ethereum is the rightful second place holder among the top cryptocurrencies in the market.
