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The cryptocurrency market is neither bullish nor bearish today, according to CoinStats.
ETH/USD
The price of Ethereum (ETH) is almost unchanged since yesterday.
On the hourly chart, the rate of ETH has once again bounced back from the local support of $1,854. If the daily bar closes far from that mark, traders may expect a test of the $1,900 area by tomorrow.
A less bullish picture can be seen on the daily time frame. If bulls want to restore the lost initiative, they need to return the price above the vital zone of $2,000.
Denys SerhiichukIn that case, there might be a chance to see a test of the resistance of $2,152.
From the midterm point of view, buyers are not ready yet for a reversal. Such a statement is confirmed by falling volume, which means not enough energy has been accumulated so far. All in all, sideways trading in the range of $1,800-$2,000 is the more likely scenario.
Ethereum is trading at $1,881 at press time.
Vladislav Sopov
Dan Burgin