Ethereum (ETH) Price Analysis for November 14
Even though the bearish pressure remains relevant, some coins have come back to the green zone.
Ethereum (ETH) is one of the biggest gainers today, going up by 1.43%.
On the hourly chart, the rate of Ethereum (ETH) has bounced off the support level of $1,180. However, the growth has been stopped at the resistance at $1,275.
At the moment, the more likely scenario is consolidation in the middle of the channel, around the $1,220 mark.
On the bigger time frame, Ethereum (ETH) has made a false breakout of the $1,196 mark. If buyers can hold the gained initiative, the correction may lead to the test of the $1,300 zone this week.
The situation is bullish against the chart of Bitcoin (BTC). At the moment, the price is located near the resistance at BTC 0.07563. If a breakout happens, the energy might be enough for a rise to the BTC 0.07978 mark.
Ethereum is trading at $1,248 at press time.Source