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.
Even though bulls are still controlling the situation, some cryptocurrencies have returned to the red area.
Ethereum (ETH) has gone down by 0.05% over the past 24 hours.
On the hourly chart, Ethereum (ETH) is returning to the recently formed support level at $1,707. If buyers cannot stop bears' pressure, one can expect to see a drop to the $1,690-$1,700 zone.
On the daily chart, Ethereum (ETH) has made a false breakout of yesterday's peak at $1,745. However, the leading altcoin remains bullish while the price is above the $1,687 mark. Respectively, the more likely scenario is sideways trading between the aforementioned levels.
On the weekly time frame, Ethereum (ETH) is trading near the level of $1,721. If buyers can hold the gained initiative and the situation does not change by the end of the week, the growth may continue to the $1,900-$2,000 area shortly.
Ethereum is trading at $1,716.90 at press time.