This week was very intense in terms of price action, and we take a look at Ethereum, Cardano, Polkadot, Solana, and Shiba Inu.
Ethereum has set a new all-time high this week at $4,670 and had another good performance where the price increased by 5.3%.
ETH is currently found on a clear uptrend towards the first key resistance at $5,075. The price level of $4,500 has acted as good support in the past three days and seems to hold well against sellers. However, there are some early signs that the bulls are getting weaker on this move higher since the MACD histogram and RSI on the daily timeframe have made lower highs while price pushed above. This is a bearish divergence, but it is too early to confirm it.
It may be confirmed if ETH breaks below the trendline that has held this uptrend so far. Considering the current momentum, this could take place sometime next week once ETH is faced with the resistance at $5,000.
Ethereum had a great start in November, and it’s possible for t