After a lot of anticipation, Ethereum has finally managed to set a new all-time high today. At $4,400, this new peak is a bit of a disappointment considering the previous one was at $4,380. The bulls did not have the strength to push higher, but this may change soon. Overall, another good week for ETH with a 6.3% rally.
The price action in the previous week may have made some traders dizzy, particularly because of that short-lived drop below $4,000 on October 27th, which recovered a day later. The key support and resistance remain at $4,000 and $4,400, respectively.
Looking ahead, Ethereum seems prepared to have an excellent start in November. The bulls are playing with the top resistance, and that can soon fall again as pressure continues to build up below it. On the daily timeframe, Ethereum appears primed for a continuation of this rally in the search for a new top.
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The price action in the previous week may have made some traders dizzy, particularly because of that short-lived drop below $4,000 on October 27th, which recovered a day later. The key support and resistance remain at $4,000 and $4,400, respectively.
Looking ahead, Ethereum seems prepared to have an excellent start in November. The bulls are playing with the top resistance, and that can soon fall again as pressure continues to build up below it. On the daily timeframe, Ethereum appears primed for a continuation of this rally in the search for a new top.
Like and follow if you liked this idea!
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