Bitcoin
$ 30,322
Litecoin
$ 71.96
Ethereum
$ 2,042.3

Ether (ETH) sees an explosion in buying volume


November was probably one of the roughest months this year for Ethereum (ETH). Just shortly after hitting all-time highs, the coin followed that rally with a massive nosedive as sentiment waned. Ether (ETH) was dangerously hovering just above $3500 from all-time highs of $4600. But an explosion in buying activity is now suggesting that a rally is coming. Here are some highlights:

  • Sentiment towards ETH is shifting positively, with buying volume set to explode

  • A bullish rally well into Christmas could see ETH crack well above $4000 and push forward

  • Analysts are not ruling out the possibility of all-time highs by Year-end

Data Source: Tradingview.com 

Ethereum (ETH) – price action and analysis

Trading Ethereum in November was really not for the weak-hearted. The wild price swings seen were simply unprecedented. At one time, ETH swung 30% in less than a week, marking the period of sustained market volatility. But the shift in rate hike tone by the US Fed acted as a catalyst for bulls to swing into action. 

At the time of the FOMC announcement, ETH was trading at around $3687. But a buying bonanza rallied the price, eventually taking ETH to above $4000. This is however still a bit further away from the highs of $4600. Besides, there is a real risk RSI could overheat in the coming days. But analysts still see a steady and slow uptick in value, with projections putting ETH well above $4600.

Should you buy Ethereum today?

It’s always a good time to buy Ethereum. It is, after all one of the main mega-cap coins in the market. Also, sentiment around the coin has improved significantly off late. Whether this will hold into the new year remains to be seen. But for long-term bets, it’s still a good time to get into Ether if you haven’t already.

,

Source link

Related Posts

Leave a Reply

Top 10 Crypto Articles

3 relatively small projects to watch in P2E gaming
May 22, 2022By
Cardano (ADA) set for a 40% upswing
May 21, 2022By
KuCoin price has nosedived. Should you buy the KCS dip?
May 20, 2022By
NFT traders moving to Solana to avail of low barriers to entry
May 19, 2022By
2 reasons why the Ethereum price is plummeting
May 18, 2022By