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.
The market is mainly green today, according to CoinStats.
ETH/USD
Ethereum (ETH) is one of the biggest gainers today, rising by 3.77%.
On the hourly chart, the rate of ETH might have set a local support of $3.158. If the daily bar closes near that mark, the decline is likely to continue to the $3,100 range.
On the longer time frame, the price of the main altcoin has once again failed to fix above the $3,230 level.
If the candle closes far from that mark, bears may seize the initiative, which may lead to a test of the $3,100 zone by the end of the week.
From the midterm point of view, one should focus on the weekly bar's closure in terms of the $3,233 level. If bulls can hold the gained initiative and the candle closes around that mark, or above, the accumulated energy might be enough for a continued upward move to the $3,300-$3,400 range.
Ethereum is trading at $3,155 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team