Ethereum Price Analysis: ETH Pushes To $4250 As Current Session Sees Recovery 

Daily Ethereum ETH Price Forecast

Last Updated November 18th 2021
4 Min Read
  • The Ethereum price registered a marginal increase during the current session. 
  • ETH had fallen over 7% on Tuesday, slipping below the 20-day SMA and settling at $4212 

The Ethereum price looked to recover during the current session, as buyers pushed the price up marginally. ETH has been quite bearish since Friday. The weekend saw ETH remain in the red, as it dropped by 0.48% on Saturday, and 0.44% on Sunday, settling at $4625. ETH remained bearish on Monday, dropping by 1.33% on Monday before falling by over 7% on Tuesday, slipping below the 20-day SMA and settling at $4212. 

Ethereum Price Chart Indicates ETH Could Push To $4300 

Although the Ethereum price started the previous week on a bullish note, rising by over 4% and pushing to $4809, the price fell back on Tuesday. ETH registered a drop of 1.61% on Tuesday and a drop of 2.09% on Wednesday, dropping to $4633. ETH recovered on Thursday, as the price rose by 1.91%, pushing up to $4722, but fell back in the red on Friday, as ETH dropped by 1.14%, settling at $4667.

Image: ETH/USD daily

ETH/USD daily chart 111821

The Ethereum price continued to remain bearish over the weekend, as the price dropped by 0.48% on Saturday and by 0.44% on Sunday to end the weekend at $4625. Monday saw the bearish sentiment continue, as ETH dropped to $4563, settling just above the 20-day SMA. ETH slipped below the 20-day SMA on Tuesday, as the price fell by over 7%, dropping to $4212, before posting a marginal recovery during the current session.

We can see that the Parabolic SAR has flipped to bearish. However, if ETH makes a recovery during the current session, we could see it flip back to bullish.

Looking at IntoTheBlock’s IOMAP for the Ethereum price, we can see that ETH faces strong resistance at around $4410. At this price level, over 600,000 addresses have sold more than 8.8 million ETH.

Image: IntoTheBlock 

ETH/USD volume chart 111821

The 4-hour Ethereum price chart shows us that ETH had dropped below the 20-bar SMA on the 11th, with the price dropping to $4633, where the 50-bar SMA acted as support. The price pushed up from this level, rising to $4776 and pushing beyond the 20-bar SMA. ETH could not sustain itself at this level and dropped top $4573, slipping below the 20 and 50-bar SMAs. After a marginal increase, ETH dropped to $4544 and then pushed to $4722, rising above the 20 and 50-bar SMAs. However, ETH fell from this level, dropping below the 20 and 50-bar SMAs and settling at $4312. ETH fell even further from this level, dropping to $4122, slipping below the 200-bar SMA, before rising to its current level of $4235.

We can see that the MACD is currently bearish, indicating that the price could drop. However, if the price recovers, we could see it flip from bearish to bullish.

Image: ETH/USD 4-hour

ETH/USD 4-hour chart 111821

Brave Introduces Browser Wallet For ETH

The recent update to Brave Browser (version 1.32) offers a native wallet for the Ethereum ecosystem. In a press release, the team announced Brave Wallet now allows its 40 million+ users to exchange assets and access decentralized apps (dApps) hosted on Ethereum Layer 2 solutions and other EVM-compatible sidechains like Polygon and xDai.

While most Web3 wallets are offered via extensions, Brave Wallet can be used directly within the browser and bypasses the need to download extensions. Brave’s built-in wallet will compete with popular Web3 wallets, including MetaMask, Trust Wallet, and Wallet Connect.

In the press release, Brave said a native crypto wallet would be useful in overcoming security and performance issues that are usually associated with browser extensions. Brave claimed that Web3 wallets used primarily as browser extensions might be more susceptible to thefts and other attacks.

In the past, users have reported losing funds to hackers through fake web extensions. By emulating popular wallets like MetaMask, hackers can trick users into entering their private keys. Explaining the features of native browser wallet, Brian Bondy, the CTO of Brave, said:

“The Brave Wallet requires no extensions and is instead browser-native, removing key performance and security concerns while preserving the core features of popular crypto wallets."

With the latest offering, Brave users can import their existing wallets from MetaMask or hardware wallets, such as Trezor or Ledger. The latest update also allows users to swap Ethereum-based tokens and provides historical market data via CoinGecko APIs in addition to a fiat onramp through a partnership with Wyre.

Ethereum Price Is Expected To Reach These Levels

Looking at the Ethereum price chart, we can see that ETH had pushed up during the current session after registering a significant fall on Tuesday. If the current sentiment persists, we could see ETH push to $4300.