Technical Analysis for ETHBTC for 15th November 2022
Ethereum Gains 13% from October Lows, Upsides Limited at 0.0079 BTC
Past Performance of ETHBTC
While the crypto market is relatively suppressed, Ethereum is gaining versus BTC, per the formation in the daily chart. As it is, ETH is up 13 percent from last month's lows, gaining versus Bitcoin and slowing down the general Ethereum bleed. Overall, ETH remains in an uptrend. This preview holds as long as prices trend above the middle BB and last week's lows at 0.0065 BTC.
ETHBTC Technical Analysis
Ethereum prices edged higher, bottoming up after losses of November 9. Even though ETH prices are trading inside the high volume bars of November 8 and 9, the general trend is up. It is because bears failed to push prices below the dynamic support line and 0.0065 BTC. All the same, the expansion volumes that took ETH to spot levels are relatively low. Therefore, there are hints of weakness that will only show if prices slide below 0.0068 BTC and 0.0065 BTC. On the flip side, gains above 0.079 BTC and November highs might trigger demand, aligning ETH bulls with gains of June to August 2022 highs.
What to Expect from ETHBTC
Buyers are optimistic, but there must be gains above November highs. On the other hand, sharp losses below last week's lows will confirm sellers of mid-last week, fast-tracking the dump to 0.0060 BTC in the medium term.
Resistance level to watch: 0.0079 BTC
Support level to watch: 0.0065 BTC
Disclaimer: Opinions expressed are not investment advice. Do your research.
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