In this video: We analyse Ethereum using Elliott Wave, with the adjusted resistance zone at $1,903.75 to $2,016.51 as the area a move up needs to break to signal a low. Video by More Crypto Online.
Visit Trading Platform >>
Ethereum is falling together with Bitcoin and has reached the 161.8% extension at $1,832.78, deep in the support zone, with the 78.6% retracement at $1,724.54 and the 88.7% retracement at $1,621.44 below. The descending channel that held for many weeks is now broken to the downside, which points to further weakness, and while the C wave down already shows five waves, more downside extensions cannot be ruled out as long as Bitcoin is under pressure. The daily RSI is at 21, but the MACD is still falling and there is no bullish divergence.
New to trading? Join iqoption for free educational materials, a risk-free demo account, and a low minimum deposit($20). Start your journey in the financial markets now!
Learn more >>
Ethereum Insights Today
• Broader Risk-Off & AI Selloff. Crypto markets are experiencing spillover volatility from a sharp decline in AI equities following the November 12 resignation of Nvidia CEO Jensen Huang, alongside hotter-than-expected U.S. CPI inflation data.
• Institutional ETF Outflows. Spot U.S. Ethereum ETFs have recorded roughly $2.3 billion in net withdrawals over the past 45 days—including $700 million so far in November—removing a primary pillar of institutional buy-side support.
• Corporate Treasury Contagion. Sentiment across digital assets has been further weighed down by news that MSCI plans to remove Bitcoin treasury firm Strategy from the MSCI USA Index by November 30, as well as reports of a $6.3 billion loss at BitMine.
• Contrarian Whale Accumulation. Despite widespread capitulation, on-chain data from Lookonchain indicates that ShapeShift founder Erik Voorhees accumulated 48,647 ETH ($97 million) at an average price of $1,994 over the past four days, with nearly $79 million in stablecoins still held in reserve.
• Oversold Momentum. Daily Relative Strength Index (RSI) readings have dropped into deeply oversold territory around 25–28. While this indicates stretched downward momentum that could trigger a short-term relief bounce, the broader trend remains firmly bearish as ETH trades well below its 20-day, 50-day, and 200-day moving averages.
Buy Ethereum >>
