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 last day of the week is bearish for the cryptocurrency market.
The rate of Ethereum (ETH) has risen by 0.18% since yesterday. Over the last week, the price has risen by 6.44%.
On the hourly chart, the price of ETH is in the middle of the local channel, getting energy for a further sharp move. However, any ups or downs are unlikely to happen today as most of the daily ATR has been passed.
On the daily time frame, the situation remains unchanged as the rate of ETH keeps accumulating power. One can only think of a continued rise if the price fixes above the $2,120 zone.
From the midterm point of view, one should pay attention to the bar closure.
If it happens near the $2,100 area, one can expect a resistance breakout by the end of the month.
Ethereum is trading at $2,079 at press time.