The second-most valuable cryptocurrency, Ethereum, has declined more than 20% over the past week to trade at $1,252.20.

Major cryptocurrencies entered the red early on November 14 as a result of the previous day’s nearly 4% decline in the global crypto market value to $810.59 billion. In contrast, the entire volume of the cryptocurrency market rose by nearly 12% in the previous day to $60.78 billion.

DeFi’s overall volume was $4.23 billion, or almost 7% of the total 24-hour volume in the cryptocurrency market. Stablecoin activity totaled $56.48 billion, or 92% of the total 24-hour volume of the cryptocurrency market.

Today’s Ethereum Price

Ethereum Price Prediction

Ethereum is currently trading for $1,261, with a $13 billion 24-hour trading volume. Less than 1% has been added to Ethereum during the past 24 hours. CoinMarketCap is now ranked second with a live market capitalization of $154 billion. There is no maximum supply and a circulating supply of 122,373,866 ETH coins.

In the previous day, Ethereum, the second-most valuable cryptocurrency, rose 1% to $1,262 on Friday. With a live market capitalization of $154 billion, it is now ranked second on CoinMarketCap.

Due to a positive retracement, Ethereum has recaptured the $1,262 level on the daily chart. $1,370 serves as the immediate resistance level for Ethereum and is supported by a 50-day moving average. The rebound might reach $1,506 or $1,670 faster if there is a bullish crossover above $1,370.

Support continues to be at or around $1,170. While a break below this level could expose ETH to $1,000, or $881, it now seems improbable.

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