IITMIND: EdTech, Finance and Crypto currencies



Ethereum (ETH) continues to surpass (BTC) selling pressure in November, looking at price action when writing on Nov 25. With price action still confined inside the conspicuous bullish engulfing bar of November 9. Despite bears forcing prices lower in the second week of November, the failure of BTC bulls to reverse all losses suggests that ETH buyers are still in command.

Following the dip in 2022, most altcoins capitulated, with most falling by over 80% from 2021 peaks as the crypto winter progressed, freezing gains. Reading from its performance in the ETH/BTC chart, hints suggest that the altcoin season could be in the early stages.

Since other altcoins have relatively thinner liquidity, they tend to recover faster but generally align with ETH. If the ETH revival is sustained, reading from the candlestick arrangement in the daily chart, the leg up might also be accelerated by several macro tailwinds.

As of now, at the time of writing this article, ETH is trading at around $2,075 with a market capitalization of $250 Billion and is up by over 7% in the last seven days.

>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.

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