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Ethereum (ETH) Daily Price Forecast – November 22

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ETH/USD Medium-term Trend: Ranging

Resistance Levels: $240, $250, $280
Support Levels: $130, $120, $110

Yesterday, November 21, the price of Ethereum was in a bearish trend. The crypto’s price fell to the low of $137.37 and commenced a range bound movement at the same price level. Today, a bullish candlestick is approaching the 12-day EMA.

Price is expected to break the 12-day EMA and the 26-day EMA; then resume its uptrend movement. Meanwhile, the price is below the 12-day EMA and the 26-day EMA indicating that price is in the bearish trend zone. Meanwhile, the MACD line and the signal line are below the zero line which indicates a sell signal.

ETH/USD Short-term Trend: Bullish

On the 1-hour chart, the crypto’s price is in a bullish trend. On November 21, the digital currency fell to the low of $133.97 and commenced a bullish movement. Price is now above the 12-day EMA and the 26-day EMA indicating that price of Ethereum is now in a bullish trend zone.

Meanwhile, the MACD line and the signal line are above the zero line which indicates a buy signal. The right time has come for traders to initiate long trades in anticipation of a bullish trend. Then a stop loss should be placed below the previous low of $129.

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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