empty
 
 

Forex Analysis & Reviews: Technical Analysis of ETH/USD for November 30, 2022
time 30.11.2022 10:31 AM
time Relevance up to, 01.12.2022 10:31 AM

Crypto Industry News:

Etherum is a 'fraud' that will eventually 'explode' like FTX as Bitcoin becomes the primary global form of money

According to Cory Klippsten, CEO and founder of Swan Bitcoin, in the long run, BTC will become the primary form of money in the world, replacing the US dollar and other fiat currencies and beating altcoins:

"It is very likely that Bitcoin will continue to grow in size, market capitalization, price and purchasing power for decades and become the world's money, which is likely to replace the US dollar in the long run," he said. 30 years, but it could also be something that won't happen until the next century."

Suggesting that altcoins like Etherum and Solana are "bad coins", Klippsten stated that unlike Bitcoin, they cannot hope to become a form of money. He also said that Ethereum is a "scam" that will eventually "go up in the air."

"Someone can issue and control the money supply in these altcoins and change the code whenever they want," he stated. .

Klippsten, who correctly predicted the fall of Celsius, Luna/UST, and FTX, spoke to Michelle Makori, editor-in-chief at Kitco News.

Technical Market Outlook:

The Ethereum cryptocurrency has been seen moving higher as the bounce continues above the level of $1,231. The recent local high was made at the level of $1,280 (at the time of writing the article), however, the market has entered an extremely overbought levels. The intraday technical resistance is located at $1,1288. The momentum is strong and positive, so the move up is backed up by bulls. Please notice the fact, that Ethereum lost more than 37% in November alone as the crypto winter continues and any up move should be considered as the upward correction during the long-term down trend.

This image is no longer relevant

Weekly Pivot Points:

WR3 - $1,253

WR2 - $1,213

WR1 - $1,190

Weekly Pivot - $1,173

WS1 - $1,150

WS2 - $1,133

WS3 - $1,093

Trading Outlook:

The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls at $1,281 was broken already and the new yearly low was established at $1,074. If the down move will be extended, then the next target for bears is located at the level of $1,000.

EURUSD
Euro vs US Dollar
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $1000 nhiều hơn!
    Trong Tháng 02 chúng tôi xổ $1000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Recommended Stories

Ray Dalio: Bitcoin will not be able to replace fiat money.

It is even greater to observe that bitcoin has approached the level of $24,350 on the 4-hour TF. Although there hasn't been a noticeable rebound from this level

Paolo Greco 19:26 2023-02-04 UTC+2

The bitcoin cryptocurrency is nearly at $24,350

The bitcoin cryptocurrency is almost at $ 24,350 and is steadily increasing toward this level. Since bitcoin's price is rising virtually daily, its growth is not that weak. We believe

Paolo Greco 19:07 2023-02-04 UTC+2

Bitcoin challenging support, 23,250 today's low as obstacle

The price of Bitcoin crashed in the short term and now is trading at 23,317. BTC/USD dropped by 4.16% from yesterday's high of 24,258. The current sell-off forced the altcoins

Ralph Shedler 15:34 2023-02-03 UTC+2

Bitcoin updates price highs less aggressively: what this means and should we expect a correction?

The cryptocurrency market and Bitcoin are entering a local phase of volatility. The ratio of short and long positions gradually reaches parity, which provokes an impulse price movement in different

Artem Petrenko 11:52 2023-02-03 UTC+2

BTC update for February 03,.2023 - Support zone is on the test

Technical analysis: BTC/USD has been trading downside this morning and I found that support zone at the price of $23.300 is on the test. Trading recommendation: Due to the strong

Petar Jacimovic 09:54 2023-02-03 UTC+2

Technical Analysis of ETH/USD for February 3, 2023

Crypto Industry News: Berkshire Hathaway (BRK) Vice Chairman and staunch skeptic of the crypto market, Charlie Munger, has called on the US to follow China's lead and ban cryptocurrencies altogether

Sebastian Seliga 09:17 2023-02-03 UTC+2

Technical Analysis of BTC/USD for February 3, 2023

Crypto Industry News: The idea of lifting the ban on cryptocurrencies began circulating in China after a former central bank official urged the country to reconsider its strict restrictions

Sebastian Seliga 09:17 2023-02-03 UTC+2

Bitcoin resumes upward movement amid Fed meeting results

Bitcoin was at a crossroads, and many technical metrics pointed to a high probability of a local correction. The cryptocurrency remained overbought, and trading volumes began to fall

Artem Petrenko 15:49 2023-02-02 UTC+2

Near term analysis on Bitcoin after the new higher high.

After the FOMC Bitcoin strengthened against the Dollar by making a new higher high at $24,258. Bitcoin price made a new high but the RSI did not follow

Alexandros Yfantis 14:35 2023-02-02 UTC+2

BTC update for February 02,.2023 - Breakout of the trading range

Technical analysis: BTC/USD has been trading upside as I expected and the price has reached the upside objectives at the price of $24.000. Anyway, I see potential for further upside

Petar Jacimovic 09:41 2023-02-02 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.