Ethereum (ETH) Daily Price Forecast – November 5

ETH/USD Medium-term Trend: Bullish

Resistance Levels: $240, $260, $280
Support Levels: $180, $160, $140

Last week the price of Ethereum was fluctuating below and above the $200 price level. On November 4, the digital currency made a bullish movement to the previous high. The crypto’s price reached the $220 price level and was resisted. The price of Ethereum pulled back to the $212 price level and commenced and bullish movement.

Today, the ETH price is above the exponential moving averages and price is expected to rise. Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. In addition, the price of Ethereum is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the digital currency is in a bullish trend. The crypto’s price is above the 12-day EMA and the 26-day EMA which indicates that price is in the bullish trend zone. The MACD line and the signal line are above the zero line which indicates a buy signal. Price is likely to break the 12-day EMA.

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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