{"id":196426,"date":"2021-11-01T21:30:38","date_gmt":"2021-11-01T16:00:38","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=196426"},"modified":"2021-11-01T20:08:35","modified_gmt":"2021-11-01T14:38:35","slug":"historical-data-spells-out-what-november-may-have-in-store-for-ethereum","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/historical-data-spells-out-what-november-may-have-in-store-for-ethereum\/","title":{"rendered":"Historical data spells out what November may have in store for Ethereum"},"content":{"rendered":"

October, without a doubt, was a time that shall be remembered for years to come, simply because of the monumental changes that took place in the crypto-verse at large, in terms of adoption and rise. While the protagonist over the last one month seemed to be the king coin, Ethereum\u2019s<\/a> ATH also came close, just before the month closed.\u00a0<\/span><\/p>\n

As both top assets flaunted decent gains, the market still anticipated higher levels and all for the right reasons. In fact, looking closely at Ethereum\u2019s chart it was clear that the top altcoin still had a lot of room to grow. So, will November look brighter for Ethereum than October? Well, looking at historical data it does seem like ETH could make some staggering moves in the coming weeks.\u00a0<\/span><\/p>\n

Weekly and monthly close looking promising
\n<\/b><\/h3>\n

Ethereum\u2019s weekly close as October came to an end was the highest weekly close the top altcoin ever saw. ETH\u2019s weekly candle last week closed above $4180, for reference the last highest close when Ethereum made an ATH in May was at $3808.\u00a0<\/span><\/p>\n

That wasn\u2019t all though, ETH\u2019s weekly candlesticks have managed to close above $3500 for the last three weeks. In fact, pseudonymous analyst, jaydee_757 pointed out that a hyper-bullish development taking place on ETH\u2019s charts. Noticeably, ETH\u2019s weekly RSI was in a 6-month trendline and had finally broken out, the same signified ETH\u2019s movement.\u00a0<\/span><\/p>\n

\"\"<\/a>
Source: jaydee_757 | TradingView<\/a><\/figcaption><\/figure>\n

Additionally, Stochastic RSI made a cross on the weekly chart as seen in the figure above. Each time this cross took place above the 20 level in the past year, ETH\u2019s price saw a 2x in price, the same pattern aligning could mean change Ethereum\u2019s game.\u00a0<\/span><\/p>\n

Repeating history?<\/b><\/h3>\n

That being said, a similarity between ETH\u2019s 2017 price structure and 2021 could be noted by looking at the weekly chart. It\u2019s seen that both the times after a consolidation phase roughly starting from June to September ETH saw a local top (in 2021 a new ATH not much higher from the older one though). <\/span><\/p>\n

Post the consolidation and subtle rise however in the month of November ETH\u2019s price blasted presenting 166% gains as the trend continued till December.\u00a0<\/span><\/p>\n

\"\"<\/a>
Source: ETH\/USDT; Trading View | AMBCrypto<\/figcaption><\/figure>\n

Since there\u2019s a stark similarity in the structure, it is possible ETH could make 100% gains this time too if everything else pans out well.\u00a0<\/span><\/p>\n

However, while the prospects of a higher move looked bright, Ethereum\u2019s price post the ATH had been making sideways movement. With ETH down 4% from its ATH the possibility of a short-term correction couldn\u2019t be discarded. <\/span><\/p>\n

If the same happens, however, it would be a good buying window. For now, since 62.13million (98%) addresses were In the Money, the best thing to do would be HODL. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

October, without a doubt, was a time that shall be remembered for years to come, simply because of the monumental changes that took place in the crypto-verse at large, in terms of adoption and rise. While the protagonist over the last one month seemed to be the king coin, Ethereum\u2019s ATH also came close, justContinue reading “Historical data spells out what November may have in store for Ethereum”<\/span><\/a><\/p>\n","protected":false},"author":42,"featured_media":196431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[32,66,3,4,12,20],"tags":[],"class_list":["post-196426","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum-news","category-new-news","category-news","category-social","category-technology","category-trading-view"],"acf":[],"yoast_head":"\nHistorical data spells out what November may have in store for Ethereum - AMBCrypto<\/title>\n<meta name=\"description\" content=\"While the protagonist over the last month seemed to be BTC, Ethereum\u2019s ATH too came in just before the month closed, what's next though?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/historical-data-spells-out-what-november-may-have-in-store-for-ethereum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Historical data spells out what November may have in store for Ethereum - 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