The price of Ethereum had been steadily rising since October, but recently pulled back from its yearly high. On November 5, it reached a new high of $2,403, but has since declined sharply. Some traders are attributing the drop to washouts of long leveraged positions. Despite the recent decline, the weekly chart still shows a bullish trend, with the potential for further growth. If Ethereum can maintain its upward momentum, it may reach a long-term resistance level of $3,500. However, if the price closes below $2,000, it could invalidate the bullish breakout and lead to a decline towards the next support level at $1,500.
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. Ethereum (ETH) has pulled back from its yearly high. Will the $2000 level hold?
