Ethereum (ETH) Price Prediction (Nov 28th 2024)
In the daily chart, the Ethereum price action showcases a record-high trendline, gaining momentum. With a massive bullish engulfing candle formed last night, the Ethereum price soared 10%.
Will the refreshed Ethereum rally reach $4,000? Read this Ethereum (ETH) price analysis to find out!
Ethereum Price Analysis
The trendline breakout marks the broadening wedge breakout rally and briefly reclaims the $3,600 mark. With the new bullish engulfing candle, the Ethereum price trend marks a change in trend sentiment and increases the upside potential.
The bullish engulfing candle extended from $3,323 to a 24-hour high of $3,688. The price leap initiated from the 61.80% Fibonacci level and challenged the 78.60% level.
However, the overhead supply kept the bullish growth under check, resulting in an intraday pullback of 1.87%. Currently, the Ethereum price is trading at $3,589.