Not long after price action surpassed the $1,600 price mark, the ETH/USD market attracted massive selling. Subsequently, this rapidly sank price action below the 78.60 Fibonacci level. And at this point price activity seems trapped under this level and has been unable to break it upwards.
Ethereum Analysis Statistics Data:
ETH’s value now: $1,134.34
ETH’s market cap: $135 billion
Ethereum’s moving supply: 122.37 million
ETH’s Total Supply: 122.37 million
Ethereum’s Coinmarketcap ranking: #2
Major Price Levels:
Top Levels: $1,164, $1,680, $1200
Bottom Levels: $1,134, $1,114, $1,100
Ethereum Price Prediction Today November 22, 2022: ETH/USD Market May Fall Through $1,100
The ETH/USD 24-hour market, price action has earlier said hasn’t been able to regain a support above the $1,286.60 price mark of 78.50 Fibonacci level. As of now, price movement is trickling down toward the price level of $1,100. Even the last price candle here formed in favor of the bears. Additionally, the applied Bollinger band has shaped to portray the overall trend in the Ethereum market Furthermore, unless traders can mount some upside force at this point, price action may fall through the $1100 price level.
Ethereum Price Prediction Today November 22, 2022: ETH/BTC May Be Attempting a Price Upward Pullback
Moving to the ETH/BTC price action seems to be receiving some level of assistance from upside forces. This is easily seen through the last price candlestick on this chart, which is a dash candle with wicks. Additionally, this is appearing after testing the lower limit of the Bollinger band. Also, the MACD leading line has just crossed below the equilibrium point, while the lagging one stays behind. It is still early to conclude what direction price action will take. The best approach is to lie in wait for price movement. Traders should consider placing pending orders at this point.
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