Ethereum Weekly Price Forecast – Ethereum Has Stellar Week

Ethereum Forecast Video for 11.12.23

Ethereum Weekly Technical Analysis

Ethereum has rallied significantly during the course of the trading week, breaking above the $2100 level. At this point, the market has certainly made a big move, and I think it’s probably only a matter of time before Ethereum goes looking to the $2500 level and possibly beyond. It’s obvious that interest rates dropping have had a major influence on crypto, and now we are starting to see a lot of excitement about crypto ETFs being introduced.

Underneath, the $2100 level should be a significant support level due to the fact that it is previous resistance. All things being equal, I do think that Ethereum goes higher, but you should be looking for little bits and pieces of value in order to get into the market. If you are not inside the market already, value is going to be the name of the game. If you are already long in Ethereum, then somewhere around the $2000 level being broken would be very negative and could get people to stop down. I do believe that we will hit the $2500 level, and I believe that we will even break above there given enough time.

In general, this is a market that is positive, but of course it is always very noisy. All things being equal, this is a situation where we continue to see a lot of choppiness, but the upward momentum continues, and I do think that will be the story for the next several months. That being said, once we get the crypto ETF announced, it could be a “sell the news” type of event, but only time will tell. I have no interest in shorting Ethereum at the moment.

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