Ethereum Technical Analysis Report | 21st-November-2023


Ether is currently experiencing a notable price breakout, propelled by a surge in institutional interest. Over the past 30 days, the increased bullish sentiment has driven Ether’s price up by an impressive 26.2%. The significant development of ETH trading consistently above the $2,000 mark suggests a shifting focus towards Ether, and this renewed bullish momentum has led to an impressive 69.5% year-to-date gain. As sentiment and volatility continue to rise for Ether, there is a visible trend of whales steadily accumulating more.

At the time of writing, ETH was trading at $2,010.

Ethereum Tuesday Daily Chart-21st-November-2023
Ethereum (ETH) Chart

ETH after taking multiple supports at the key level of $1,530 (78.6% Fibonacci Retracement Level) started moving up by forming a ‘Higher High Higher Low’ pattern. The asset broke the long-held resistance of $1,750 and surged up to $2,136. However, the bulls failed to break the previous high of $2,146 and the prices witnessed some profit booking and corrected almost by 10% to $1,904. ETH made a double ‘Doji’ at the recent low of $1,904 and rallied up to $2,066. Currently, the prices are hovering around $2,000. To further rally it needs to break, close and sustain above $2,150.

Key Levels:

  Support 2Support 1AssetResistance 1Resistance 2

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