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.
Most of the top 10 coins have come back to the red zone, according to CoinMarketCap.
ETH/USD
The rate of Ethereum (ETH) has declined by 0.34% over the last 24 hours.
On the hourly chart, the price of the main altcoin might have set a local resistance of $3,067. As most of the ATR has been passed, there are low chances of seeing sharp moves by tomorrow.
On the bigger time frame, the situation is bullish as the rate of ETH is about to fix above the $3,045 level. If it happens, the upward move is likely to continue to the $3,100-$3,200 range soon.
From the midterm point of view, the picture remains bullish until the price is above the $2,857 level. However, bulls might need some time to accumulate energy for a further move.
In this case, sideways trading in the area of $2,800-$3,000 is the most likely scenario until the end of the week.
Ethereum is trading at $3,050 at press time.
Vladislav Sopov
U.Today Editorial Team