ETH Price Prediction: Today’s Eherium Price, 9th Nov 2022

Ethereum Price Prediction

Ethereum, the second-most valued cryptocurrency, dropped over 9% in the previous day to trade at $1,446 on Tuesday. With a live market value of $178 billion, down from $193 billion yesterday, it is currently ranked second on CoinMarketCap.

On the 4-hour chart for Ethereum, a bearish engulfing and three black crows candlestick pattern has developed, signifying a strong tilt toward selling among investors. At $1,460, Ethereum has now crossed below an ascending trendline. When the rising trendline is broken, Ethereum is given access to the downside up to the $1,380 support area.

The RSI and MACD both show a strong bearish trend at the same time; however, both indicators have entered the oversold region, suggesting that sellers may soon run out of steam, making it possible for bulls to buy.

So keep a watch on $1,460 since 4-hour candlesticks closing above this level have the potential to buck the downtrend and aid in our ability to seize a bullish correction. On the downside, bulls may find support at $1,380.