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Ethereum (ETH) Price Analysis for November 3
Cover image via www.tradingview.com

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Bulls could not keep the rise going for long, and coins have come back to the red zone.

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ETH/USD

The rate of Ethereum (ETH) has risen by 1.63% over the last 24 hours.

Image by TradingView

On the hourly chart, the price of Ethereum (ETH) is trying to fix above the local resistance level of $1,806. If the candle closes above it, the growth will continue to the $1,820-$1,830 zone tomorrow.

Image by TradingView

On the daily time frame, the rate of ETH is trading sideways as it is located in the middle of the channel. Thus, the volume is falling, which means that none of the sides is ready for a sharp move. 

Respectively, consolidation around the $1,800 area is the more likely scenario for the following days.

Image by TradingView

On the weekly chart, the rate of ETH has made a false breakout of the resistance of $1,865. If the bar closes far from it, one can expect a correction to the nearest support level of $1,755. 

Ethereum is trading at $1,803 at press time.

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