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 market is changing to red, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has fallen by 0.81% over the last 24 hours.
On the hourly chart, the price of ETH is going down after breaking the local support of $3,532. If the daily bar closes near that mark or below it, the correction is likely to continue to the $3,400 zone.
On the longer time frame, the rate of the main altcoin has once again bounced off the resistance of $3,654.
If the situation does not change, traders may expect an ongoing decline to the $3,400 mark shortly.
From the midterm point of view, there are no reversal signals yet. However, the price of ETH is far from the support and resistance levels, which means there low chances of witnessing sharp moves by the end of the week.
Ethereum is trading at $3,498 at press time.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team