Baxia Markets
November 09, 2021

Ethereum reaches an all-time high at $4,796.44

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The cryptocurrency is on a three-day streak and found a new all-time high in today's trading session. We could see a pullback in the short term as the market might be exhausted, and trades with long positions could start closing with gains.

The Bollinger bands are very wide; however, the price trades very close to the upper band, suggesting that it is relatively high, which could drive the price down. We expect high volatility in the short term, and the price could continue the uptrend for a few more days, but it will eventually have a correction.


ETH Nov 2nd 2021


The relative strength index is at 69%, very close to being overbought; however, we have seen ETH stay overbought for a few sessions before coming back down in the past, this could be the case again for the short term, but we expect the price to pull back eventually.


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