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.
Buyers are trying to keep the rates of coins in the green zone, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
ETH/USD
The price of Ethereum (ETH) has risen by 0.13% since yesterday.
Image by TradingView
On the local chart, the rate of Ethereum (ETH) is testing the resistance level at $1,860.50. At the moment, traders should focus on the bar's closure. If it happens around that area, the breakout may lead to a blast to the $1,870 zone shortly.
Image by TradingView
On the bigger time frame, the price of ETH remains bearish as the rate has not bounced off far from the support level. In addition, the buying volume is low, which means that bulls are not ready yet to buy the coin.
In this regard, sideways trading between $1,850 and $1,870 is the more likely scenario until the end of the week.
Image by TradingView
A positive picture can be seen on the daily chart against BTC as the rate is closer to the resistance than to the support. If the price reaches the 0.064 mark and fixes there, one can expect a quicker test of the upper level of 0.06435.
Ethereum is trading at $1,859 at press time.
Godfrey Benjamin
Gamza Khanzadaev
Mushumir Butt
