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 might have found a local peak, as most of the coins are in the red zone.
ETH/USD
The price of Ethereum (ETH) has fallen by 1.71% over the last 24 hours.
On the hourly chart, the price of Ethereum (ETH) is looking bearish as the rate is coming back to the local support level of $1,774.7. If the situation does not change by the end of the day, the breakout may lead to a test of the $1,750 zone on the weekend.
On the daily time frame, the price of ETH keeps falling after a false breakout of the resistance of $1,854. At the moment, traders should focus on the $1,755 level.
If the bar closes below it, sellers may seize the initiative for the next few days.
From the midterm point of view, one should pay attention to the candle closure in terms of the level of $1,744. If the bar closes above it and with no long wick, growth may continue to the $1,900 zone in the first part of December.
Ethereum is trading at $1,777 at press time.
Arman Shirinyan
Alex Dovbnya
