Ethereum, Chainlink, Cardano and Dogecoin are extending a weak trend after sliding to near major support levels. U.Today, a blockchain outlet, said on Nov. 11 local time that $2,000 for Ethereum, $10 for Chainlink, $0.16 for Cardano and $0.07 for Dogecoin were presented as key near-term support levels.
Ethereum is trading around $2,095, down about 25 percent from its September peak near $2,800. A large bearish daily candle formed on Nov. 8 and pushed it down from the $2,230 range, and it is now below major moving averages. The relative strength index is near 30 and has neared oversold territory, but volume is declining. If $2,000 breaks, the next support zone was presented as the $1,900 range.
Chainlink is trading around $10.49, down about one-third from a late-September peak near $15.70. On a daily basis, it is below all moving averages, and the 50-day exponential moving average has been rapidly narrowing its gap with the 100-day exponential moving average, raising the likelihood of a death cross. It failed to recover after breaking below long-term moving averages around $11 early this month, and the $10 level, which saw buying flow in twice over the past two weeks, was cited as key support.
Charles Schwab said on Aug. 27 it would add Chainlink to its cryptocurrency trading platform along with Solana and Avalanche. It did not disclose a launch schedule.
Cardano is trading around $0.1776, down about 37 percent from an early-October peak near $0.28. It fell to as low as $0.1715 this week. The relative strength index has slipped below 40, and November trading volume is among the lowest levels on the chart. If selling continues, the next support zone was presented as $0.16.
Dogecoin is trading around $0.0694 and is holding near the $0.07 level. It fell to as low as $0.0672 this week, but the daily close ended back near support. All major moving averages are trending lower, and the nearest resistance level is around $0.0765. Dogecoin recently updated its L2Reth testnet infrastructure, but such technical improvements alone are unlikely to move the price immediately in the short term.
