Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
By the end of the week, most of the coins are in the green zone, according to the CoinMarketCap ranking.
ETH/USD
Ethereum (ETH) is one of the biggest gainers today, rising by 2.27% over the past 24 hours.
On the local time frame, Ethereum (ETH) is trading in a narrow range, between the support at $1,213 and the resistance at $1,229.
At the moment, the price is on its way to the upper level, which means there is a possibility to see a breakout tomorrow.
On the bigger chart, traders should pay close attention to the recently formed resistance level at $1,230.20. If the candle closes around it, the accumulated energy might be enough for a move to the $,1280 zone. Thus, the buying volume has started to rise, which indicates buyers' strength.
Analyzing the chart against Bitcoin (BTC), the situation remains unclear as the rate keeps trading sideways. Buyers might seize the initiative — only if they return the price above the 0.073 mark.
Ethereum is trading at $1,223 at press time.
Vladislav Sopov