Ethereum (ETH) Price Analysis for November 23

The rates of most of the coins are rising today, according to CoinStats.

ETH/USD

The price of Ethereum (ETH) has gone up by 3.18% over the last 24 hours.

On the hourly chart, the rate of ETH has made a false breakout of the local resistance of $2,834.

However, if the daily candle closes near that mark or above, the upward move may continue to the $2,900 range soon.

On the bigger time frame, the price of the main altcoin is far from the main levels. The volume has declined, which means traders are unlikely to see sharp moves by the end of the week.

From the midterm point of view, one should pay attention to the weekly bar closure in terms of the $2,857 level. If a false breakout happens, traders may see a local bounce back to the $3,000-$3,200 zone.

Ethereum is trading at $2,817 at press time.