03.11.202113:10 Forex Analysis & Reviews: Trading plan for Ethereum on November 3, 2021

Ethereum's potential to rise has not been exhausted, although it has recently updated its annual high. A hint that the growth will continue is the breakdown of the level of $ 4,500 and consolidation above it during the US session yesterday.

The task is to find the most favorable prices to buy the instrument. The level of $4,500 is the first support level, the test of which will determine the strength of the upward movement. On the return to the specified level, it will be possible to enter a long position on the absorption pattern. There is an 80% probability of updating the local high of the week. Any purchases before its update will be profitable in the near future.

The average value of weekly growth on the moving average is approximately $ 4,357. This level can be considered as the most profitable when searching for purchases. The probability of a decline to the average weekly price is slightly below 50%. However, the currency expiration in the options market is approaching and the released cash may migrate to ETH, which shows stable growth in the last month.