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 most of the coins, according to CoinStats.
ETH/USD
The rate of Ethereum (ETH) has declined by almost 1% since yesterday.
On the hourly chart, the price of the main altcoin is about to break the local support of $1,796. If it happens and the daily bar closes below it, the decline is likely to continue to the $1,780 mark soon.
On the bigger time frame, the rate of ETH is looking bearish as the growth did not last long after a false breakout of the support of $1,754.
Denys SerhiichukIf bulls cannot seize the initiative shortly, traders may expect a test of the aforementioned mark soon.
From the midterm point of view, sellers are also more powerful than buyers. If a breakout of the $1,754 level happens, there might be a more profound drop to $1,600.
Ethereum is trading at $1,794 at press time.
Vladislav Sopov
Dan Burgin