Ethereum (ETH) Price Analysis for November 27

The rates of most of the coins are in the green zone today, according to CoinStats.

ETH chart by CoinStats

ETH/USD

The price of Ethereum (ETH) has gone up by 2.16% over the past day.

Image by TradingView

On the hourly chart, the rate of ETH has made a false breakout of the local support of $2,988. However, if the daily bar closes near that mark or even below it, traders may expect a test of the $2,950 zone soon.

Image by TradingView

On the longer time frame, the price of the main altcoin has made a false breakout of the $3,063 resistance. If sellers’ pressure continues, there is a chance to see a correction to the $2,900-$2,950 range this week.

Image by TradingView

From the midterm point of view, the rate of ETH is far from key levels. In this regard, one should pay attention to the interim area of $3,000. 

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If buyers lose it, the next zone where a bounce back may happen is $2,000-$2,500.

Ethereum is trading at $3,001 at press time.

Source: https://u.today/ethereum-eth-price-analysis-for-november-27