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.
Neither bulls nor bears are dominating today, according to CoinMarketCap.
ETH/USD
The price of Ethereum (ETH) has fallen by 0.50% over the last day.
On the hourly chart, the rate of ETH is in the middle of the local channel, gathering energy for a further move.
As most of the daily ATR has been passed, ongoing sideways trading in the area of $2,240-$2,260 is the more likely scenario until the end of the day.
On the daily time frame, one should pay attention to the recently formed resistance level of $2,310. Until the rate comes back to this mark, there is a chance to see a further drop.
From the midterm point of view, traders should focus on the candle closure in terms of the mirror level of $2,300. If the bar closes far from it, the correction may continue to the $2,150-$2,200 zone.
Ethereum is trading at $2,259 at press time.
Tomiwabold Olajide
