Ethereum (ETH) Price Analysis for November 10

The prices of coins keep rising; however, there are some exceptions from the rule.

ETH/USD

The rate of Ethereum (ETH) has increased by 3.08% over the past 24 hours.

On the hourly chart, the price of Ethereum (ETH) has bounced off the local support level of $2,071.

However, if the daily bar closes not far from it, bears may seize the initiative, which can lead to a drop to the $2,040 zone.

On the daily chart, the rate of ETH has made a false breakout of yesterday’s bar peak. If the candle closes below the important zone of $2,100, the correction may continue to the $2,000-$2,050 area in the next week.

On the bigger chart, one should focus on the bar closure in terms of the level of $2,029. If it happens above that mark, the ongoing rise may continue to the $2,100 area and above.

Ethereum is trading at $2,086 at press time.

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