Ethereum Price Prediction Today, Nov 19: ETH Holds $1,250

ETH Holds $1,250 – Nov 19

ETH/USD trader reaction has led to the prospect that the cryptocurrency market is stuck at the $1,250 value line. There was a weak bearish trading stance between $1,211.97 and $1,197.09, with an average negative percentage of 0.37 per minute.

ETH hovering at $1,250: ETH market
Main levels:

Resistance Levels: $1,250, $1,500, $1,750
Support levels: $1,100, $1,000, $900

ETH/USD – daily chart

The ETH/USD daily chart shows the crypto market holding the trading resistance level of $1,250 for the multi-day session. The 14-day SMA reading is at $1,335.58, below the 50-day SMA reading of $1,449.72. The upper and lower horizontal lines indicate zones in which prices are characteristic. The Stochastic is moving consolidatively around the 28.35 and 29.82 levels, indicating less action in the market.

Should ETH/USD market participants forecast hovering positions on their next operation in continuous mode?

With the crypto market hovering at the $1,250 level, ETH/USD traders are likely to see volatility in trading thereafter. The value line emerges and becomes a key point at which the market must timidly push upwards to deliver a new cycle of resuming bullish trends. Two horizontal lines resulted in zones where activity was restricted for some time. A bounce from a low area to a high line allows buyers to regain lost valuation.

On the downside for technical analysis, ETH/USD trading operations are currently taking place within a clear rangebound setting zone. The $1,250 and $1,000 levels show the bears need to consolidate their stance against a possible bull market and are trying to push north from the higher trading spots. Before establishing a sell order position, the person placing his short position should wait for an active force to be emitted around the upper horizontal line.

ETH/BTC price analysis

Ethereum is relying on a light correction to Bitcoin’s trend capacity. The cryptocurrency pair’s market stays on the SMA trend line and is less likely to go long long on the downside. The 14-day SMA indicator is slightly above the 50-day SMA indicator. The Stochastic is about 40 and 20 points and looks like it’s about to cross back northwards at the 30.31 and 31.68 levels. This means that the base crypto is about to make an upward swing against the counter-trading crypto.

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