Ethereum is seen trading in a falling wedge pattern after correcting lower from the highs traded this week. Ethereum slowed down the bullish movement that dominated the price on Sunday, Monday and Tuesday.
November 9, OctaFX – The broader cryptocurrency eeked out marginal gains this week, as the US Securities and Exchange Commission announced that they were preparing to make their much-awaited announcement on a potential Bitcoin ETF.
Ethereum and Litecoin were amongst the top-performers earlier this week, with Bitcoin Cash advancing the most amongst the top-ten cryptocurrencies by market capitalization.
The BTCUSD pair made tepid gains, as the number one cryptocurrency suffered from a lack of buying interest above the $6,500 level and low trading volumes ahead of the US SEC ruling.
ETHUSD Technical Prediction
- The ETHUSD pair is bullish while trading above the $215.00 level, further gains towards the $240.00 and $257.00 levels seem possible.
- If the ETHUSD pair trades above the $215.00 level, losses towards the $200.00 and $180.00 support levels remains possible.
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