The Bearish Pressure On The Ethereum Market Is Still Strong

Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

Crypto Industry News:

Recently, the market was informed that a wallet allegedly linked to Vitalik Buterin sold 3,000 ETH worth approximately USD 3.75 million on Saturday, November 12. ETH was converted to stablecoins via Uniswap. This quite fresh story has already been commented on by Evan Van Ness, one of the most important developers in the Ethereum community. Van Ness denied the reports and said Vitalik Buterin had told him that the wallet in question did not belong to him. Internet portals tried to reach Buterin directly for independent confirmation, however, still failed.

Technical Market Outlook:

The bearish pressure on Ethereum is still strong and the next target for bears is seen at the level of $886 (yearly low's). The market has been consolidating in a narrow range as the momentum is still weak and negative on the H4 time frame chart. The nearest technical resistance is seen at the level of $1,343 and the intraday technical support is seen at $1,191. In order to extend the recent impressive rally and reverse the trend to the up trend the market must break above the last swing high seen at $1,785.

Exchange Rates 15.11.2022 analysis

Weekly Pivot Points:

WR3 - $1,247

WR2 - $1,237

WR1 - $1,231

Weekly Pivot - $1,227

WS1 - $1,221

WS2 - $1,217

WS3 - $1,207

Trading Outlook:

The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August at the level of $2,029. The key technical support for bulls is seen at $1,281 as a part of the demand zone located between the levels of $1,252 - $1,295. If the down move will be extended, then the next target for bears is located at the level of $1,000.



Relevance up to 09:00 2022-11-16 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Read more:

Nubank Announced The Introduction Of Nucoin's Own Cryptocurrency

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand, regulated by CySec with license number 266/15.

Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds. offers access to around 2,500 instruments (Stocks CFDs, ETFs, IPOs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms,trading accounts in EUR, USD, PLN, CZK, GBP.

More information at:

Follow on:

Twitter Facebook YouTube


Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.95% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.