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Ethereum (ETH) Price Analysis for November 19


Bulls could not keep up yesterday’s growth, and most of the coins are back in the red zone.

Top 10 coins by CoinMarketCap

ETH/USD

The rate of Ethereum (ETH) has declined by 0.78% over the last 24 hours.

ETH/USD chart by TradingView

Despite the fall, Ethereum (ETH) has started the day with a false breakout of the local support level at $1,200. At the moment, the rate is slowly approaching the resistance at $1,210.

If the situation does not change, the rise may lead to a test of the $1,220 zone soon.

ETH/USD chart by TradingView

On the daily chart, Ethereum (ETH) keeps trading sideways as the rate is far from the key levels. However, if buyers lose the $1,200 area, one can expect a sharp move to $1,100 by the end of the week.

ETH/USD chart by TradingView

Ethereum (ETH) is trading near the support level formed by the false breakout at $1,155. The selling volume remains high, which means that bears are more powerful than bulls at the moment. Respectively, the more likely scenario is a decline to the important level at $1,000.

Ethereum is trading at $1,207 at press time.



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