Crypto & Blockchain Daily Brief Sunday, November 24, 2024

The article discusses Ethereum's price prediction for November 23. It highlights that Ethereum has been experiencing a downward trend recently, dropping below $4,500 and struggling to regain momentum. On November 22, Ethereum's price was around $4,300, and the article suggests that the upcoming days may be crucial for the coin's performance. The analysis mentions that Ethereum's price is currently below the 100-day Simple Moving Average (SMA), indicating a bearish trend. If Ethereum fails to break above this SMA, the price may continue to decline. However, if it manages to surpass this level, there is a chance for a bullish reversal. The article also discusses key support and resistance levels for Ethereum. It notes that the immediate support is around $4,200, and if Ethereum breaks below this level, it could potentially drop to $4,000. On the other hand, the resistance is at $4,500, and if Ethereum manages to surpass this level, it could target $4,800. In conclusion, the article suggests that Ethereum's performance in the coming days will be crucial in determining its future price movement. Traders and investors are advised to closely monitor key support and resistance levels to gauge the market sentiment. As the cryptocurrency market is highly volatile, these levels can serve as important indicators for decision-making.