ETHUSD Bullish Above $215.00


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.

Cryptocurrencies Sidelined

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.

Disclaimer

This article was provided by OctaFX. It should NOT substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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