On November 18 and 19, the Ethereum price tried to recover from its loss with the help of bulls. Unfortunately, its recovery was being rejected by the supply zone, which had a price of 4400 USD.
Since Ethereum’s native coin-Ether has been leaving several crypto exchanges, therefore, the decline in the price has already started in recent days. Along with this, the world’s second-largest digital currency has begun to show bearish signals.
Ethereum has also failed to the resistance level of $4400 and therefore is facing increasing pressure. As a result, ETH has been forced to reach the $4100 support level. Some experts believed that ETH price might fall towards or below the mark of $4000.
Despite its recovery from the early losses, a move through the price tag of $4,350 would be needed for its support. Therefore, the license should be to reach the digital coin to almost at $4,500.
At current, i.e., at the time of writing, one ETH is trading at the price of $4307.12. This indicates that the coin has again started to recover from its loss, which happened in the recent past.
Furthermore, the coin had shown mixed signals throughout the whole day. Therefore, it is pretty challenging to predict its near future.
Price Analysis of ETH
If we look at the technical analysis of ETH, we have seen that RSI, which is commonly known as the Relative Strength Index, is at the position of 43.16. On the other hand, MACD, which is known as Moving Average Convergence Divergence, is in the negative area.
As a result, we can’t ignore them. Since these two signals are bearish, therefore, the signals indicate that ETH will continue its bearish or downward trend until and unless the signals come into the favor of the bull.
According to the 24-hour or daily chart/graph, ETH’s chances are to reach above the price of $4400 and continue to move upward after being pushed by bulls. The red band suggests these signals on the daily chart/graph.
Ethereum Price Prediction
Different experts have different predictions about the price of ETH. Some predict that it will continue its bearish trend in the following years.
At the same time, some analysts predict that the price of one ETH will be equal to 6500 USD and, therefore, will reach its ATH- an all-time high price in the near future. No one has accurate coin predictions, and all are just predicting according to their observations and research.
Besides this, some analysts believe that ETH may be stuck somewhere between the price tag of $4,000 to $4,400. But a drop just below the $4,000 support level can also open the gate for losses towards price segments of $3,900 and $3,700.