The market remains mainly red today, according to CoinStats.
ETHchart by CoinStatsETH/USD
The price of Ethereum (ETH) has declined by 1.51% over the last 24 hours.
Image by TradingViewOn the hourly chart, the rate of ETH is approaching the local support of $3,377. If buyers cannot seize the initiative, one can expect a level breakout, followed by a further drop to the $3,350 mark.
Image by TradingViewOn the longer time frame, the price of the main altcoin is going down after a false breakout of the resistance of $3,654.
If the daily candle closes with a long wick, the decline is likely to continue to the $3,300 range.
Image by TradingViewFrom the midterm point of view, the situation is similar. If bulls lose the vital $3,000 mark, one can expect a test of the support of $2,857 shortly.
Ethereum is trading at $3,404 at press time.
Source: https://u.today/ethereum-eth-price-analysis-for-november-13
