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 prices of some coins are rising, while others are staying in the red zone, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has declined by 1.165% since yesterday.
On the hourly chart, the price of ETH is rising after a bounce back from the local support of $2,503. If buyers can hold the initiative, there is a chance to see a test of the resistance by tomorrow.
On the bigger time frame, bears remain more powerful than bulls. If the rate does not come back to the $2,600 zone soon, there is a possibility of seeing an ongoing decline to $2,400.
From the midterm point of view, ETH still has a chance to keep rising, as the price is above the $2,447 level.
However, if buyers lose it, the correction may lead to a test of the $2,300-$2,400 zone by the end of the week.
Ethereum is trading at $2,527 at press time.
Godfrey Benjamin
Tomiwabold Olajide
Gamza Khanzadaev
