The post Ethereum (ETH) Price Analysis for November 13 appeared on BitcoinEthereumNews.com. The market remains mainly red today, according to CoinStats. ETHchart by CoinStats ETH/USD The price of Ethereum (ETH) has declined by 1.51% over the last 24 hours. Image by TradingView On the hourly chart, the rate of ETH is approaching the local support of $3,377. If buyers cannot seize the initiative, one can expect a level breakout, followed by a further drop to the $3,350 mark. Image by TradingView On the longer time frame, the price of the main altcoin is going down after a false breakout of the resistance of $3,654.  You Might Also Like If the daily candle closes with a long wick, the decline is likely to continue to the $3,300 range. Image by TradingView From the midterm point of view, the situation is similar. If bulls lose the vital $3,000 mark, one can expect a test of the support of $2,857 shortly. Ethereum is trading at $3,404 at press time. Source: https://u.today/ethereum-eth-price-analysis-for-november-13The post Ethereum (ETH) Price Analysis for November 13 appeared on BitcoinEthereumNews.com. The market remains mainly red today, according to CoinStats. ETHchart by CoinStats ETH/USD The price of Ethereum (ETH) has declined by 1.51% over the last 24 hours. Image by TradingView On the hourly chart, the rate of ETH is approaching the local support of $3,377. If buyers cannot seize the initiative, one can expect a level breakout, followed by a further drop to the $3,350 mark. Image by TradingView On the longer time frame, the price of the main altcoin is going down after a false breakout of the resistance of $3,654.  You Might Also Like If the daily candle closes with a long wick, the decline is likely to continue to the $3,300 range. Image by TradingView From the midterm point of view, the situation is similar. If bulls lose the vital $3,000 mark, one can expect a test of the support of $2,857 shortly. Ethereum is trading at $3,404 at press time. Source: https://u.today/ethereum-eth-price-analysis-for-november-13

                                                                               Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday.                     The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction.  “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more