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<p>Ethereum (ETH), the world’s second-largest cryptocurrency by market cap has breached a crucial level and currently is gaining significant attention from investors as well as traders. As of today on November 28, 2024, ETH’s breakout from a strong resistance level indicates that it is poised for a notable upside rally.&nbsp;</p>  
<h2 class="wp-block-heading" id="h-ethereum-technical-analysis-and-upcoming-level"><strong>Ethereum Technical Analysis and Upcoming Level</strong></h2>  
<p>According to Coinpedia’s technical analysis, <a href="https://coinpedia.org/price-prediction/market-price-prediction-ethereum-2019/" rel="noopener noreferrer nofollow">ETH’s</a> sentiment has strongly shifted toward the bullish side. In addition to breaching the horizontal support level of $3,550, the altcoin has also broken out of its five-day-long consolidation zone.</p>  
<p>This zone breakout near the resistance level is considered successful, as notable accumulation has recently been observed in this zone.</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/11/28020145/ETHUSDT_2024-11-28_02-01-22.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/28020145/ETHUSDT_2024-11-28_02-01-22-1024x449.png" alt="" class="wp-image-386291"></a>
 <figcaption class="wp-element-caption">
  Source: Trading View
 </figcaption>
</figure>  
<h2 class="wp-block-heading" id="h-ethereum-eth-price-prediction-nbsp"><strong>Ethereum (ETH) Price Prediction&nbsp;</strong></h2>  
<p>Based on recent price action, if ETH sustains above the $3,580 level, there is a strong possibility it could rally by 14% to reach the $4,000 mark in the coming days, with the potential to climb even higher if the bullish sentiment stays.</p>  
<p>On the positive side, ETH is trading above the 200 Exponential Moving Average (EMA) on the daily time frame, indicating an uptrend. Additionally, its Relative Strength Index (RSI) suggests a potential upside rally in the coming days. Currently, ETH’s RSI on the daily time frame is below the 70 level, indicating there is still room for further growth.</p>  
<h3 class="wp-block-heading" id="h-eth-s-rising-open-interest-nbsp"><strong>ETH’s Rising Open Interest&nbsp;</strong></h3>  
<p>Besides technical analysis, on-chain metrics further support’ ETH's bullish outlook. Data from the on-chain analytics firm <a href="https://www.coinglass.com/currencies/ETH" rel="noopener noreferrer nofollow">Coinglass</a> reveals record trader participation in ETH. According to Coinglass, ETH’s Open Interest (OI) has surged by 15% in the past 24 hours, indicating a significant increase in new positions during this period.&nbsp;</p>  
<figure class="wp-block-image size-large"><a href="https://image.coinpedia.org/wp-content/uploads/2024/11/28020246/image-302.png" rel="noopener noreferrer nofollow"><img src="https://image.coinpedia.org/wp-content/uploads/2024/11/28020246/image-302-1024x362.png" alt="" class="wp-image-386292"></a>
 <figcaption class="wp-element-caption">
  Source: Coinglass
 </figcaption>
</figure>  
<p>With significant attention from traders, ETH’s Open Interest (OI) has reached a record high of $23.56 billion for the first time. During ETH’s previous all-time high, its OI was approximately $10 billion. This data highlights the growing interest and confidence traders have in the altcoin.</p>  
<h3 class="wp-block-heading" id="h-current-price-momentum-nbsp"><strong>Current Price Momentum&nbsp;</strong></h3>  
<p>At press time, ETH is trading near $3,612 and has experienced a price surge of over 10% in the past 24 hours. However, during the same period, its trading volume dropped by 9%, indicating lower participation from traders and investors compared to the previous day.</p>

Breakout Alert! Ethereum (ETH) Price Prediction For November 28

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