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 weekend has started neutral as some coins are rising while the rates of others are falling.
ETH/USD
Ethereum (ETH) remains in the green zone, going up by 0.37% over the last 24 hours.
Despite the rise, the price has broken the local support level of $1,578. If buyers cannot return it to the channel, one can expect a further drop to the $1,550 zone shortly.
On the daily time frame, the rate is slowly approaching the support level at $1,533 against declining volume. Currently, one should pay attention to the interim level at $1,600, as it plays a key role in terms of further growth. If bulls fail to restore the price, the drop may lead to a test of the $1,480-$1,520 zone.
On the bigger time frame, the price is in the wide channel, which means that ongoing sideways trading in the range of $1,550-$1,650 is the more likely scenario.
Ethereum is trading at $1,573 at press time.
Alex Dovbnya
Dan Burgin
Vladislav Sopov