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Even though the bearish pressure remains relevant, some coins have come back to the green zone.
ETH/USD
Ethereum (ETH) is one of the biggest gainers today, going up by 1.43%.
On the hourly chart, the rate of Ethereum (ETH) has bounced off the support level of $1,180. However, the growth has been stopped at the resistance at $1,275.
At the moment, the more likely scenario is consolidation in the middle of the channel, around the $1,220 mark.
On the bigger time frame, Ethereum (ETH) has made a false breakout of the $1,196 mark. If buyers can hold the gained initiative, the correction may lead to the test of the $1,300 zone this week.
The situation is bullish against the chart of Bitcoin (BTC). At the moment, the price is located near the resistance at BTC 0.07563. If a breakout happens, the energy might be enough for a rise to the BTC 0.07978 mark.
Ethereum is trading at $1,248 at press time.
Tomiwabold Olajide
Godfrey Benjamin
Yuri Molchan
