Ethereum ETH price is likely to hit new low following BTC $7500

Ethereum ETH price is likely to hit new low following BTC 7500

The king of cryptocurrency has fallen as predicted while the queen Ethereum ETH price is dwindling with a drop, down to $161 range.

Ethereum ETH price fell as low down as $156 at one point today while the Bitcoin was touching $7500 range. However, unlike Bitcoin, the queen displayed a better recovery to the current ETH/USD trading price.

Ethereum ETH price chart 1 - 21 November 2019Ethereum ETH price chart by Trading View

Ethereum ETH price movement: What to expect?

Just as the king of crypto is going through a tough time, the Queen of crypto Ethereum is also experiencing price falls. Even before the fall, the prediction for Ethereum ETH price was to return to its previous price levels sooner, as compared to Bitcoin.

ETH USDEthereum ETH price chart by Trading View

The price chart indicated that there had been a bullish divergence on the RSI. The movement was confirmed by the MACD indicators, and that is going to alter the local trend to bullish trend. Still, the possibility of price dropping remains, with the nearest scenario reaching at $177. At the time of the prediction, the Ethereum price stood at $174.83.

However, Bitcoin’s price had plans of its own, while Chinese president Xi’s explanation became the initial catalyst to blow off $10 billion from the market. Ethereum price is following the general market trend, and the Bitcoin price is likely to bounce back to the November price levels of $10000 and above in the next trend.

Traders looking to break through altcoin bears are looking past the top contenders BTC, Ethereum ETH, and Ripple XRP for their retail trading gains. However, Ethereum is also likely to return with the Bitcoin in the next couple of weeks.

Featured Image by Pixabay

Johnson Go

Johnson Go

Blockchain enthusiast, project management specialist, writer and crypto investor. JG deals mostly with problems and solutions of crypto projects and provides market outlook for investments. He contributes his analytical skills to projects.

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